Why You Should Consider Using a Debit card

I now only use credit card for gas purchases and debit cards for online purchases. All other expenses are paid in cash.

The simplest way to describe a debit card is that it’s a prepaid credit card. You can use it to pay online or at the mall (the shop has to have a smart terminal – anyway, just ask the store). You can even use it as a remittance account.
Debit cards available in the Philippines are

• EON from Unionbank- VISA Electron with CVV (P300 annual fee)
• MTV Card from Equitable PCIB – MasterCard Electron
• SCB Visa Electron from Standard Chartered – VISA Electron
• Smart Money – Mastercard Electronic

To buy online
I currently have Unionbank EON debit card now and it serves my needs just fine. You deposit into your account over-the-counter and that’s the maximum you can spend!
I don’t know about the others but the EON card from Unionbank certainly allows you to purchase online, same as if you used a credit card.

The CVV is a 3-digit card at the back of your card which is required when making secure online purchases.

Using a debit card helps you curb your spending habit while taking advantage of the convenience of credit cards.

To create an account, you can sign up at the EON website.

To receive remittances
You can use your debit card as a means to receive remittances from your friends, relatives, or customers, and withdraw from that account by opening a Smart MONEY or EON account at YesPinoy.com (Tell them I referred you – my member number is 37849.)

Why not use a secured credit card? 

Well, isn’t a secured credit card… still a credit card? A secured credit card allows you to borrow only up to 80% of your outstanding savings account balance with the same bank.
This requires you to maintain your bank account balance up so you can enjoy your credit limit. This also means you’re money is stuck there and you can’t move it to higher-yielding investments.
You, of course, have to add checking it and paying it to your to-do list (you do check your credit card statement if all the charges are correct — right?).

It’s also better to keep accounting for debt (if any, that includes credit cards, loans) separate from assets (which include your bank account and investments).