Steve's Response: According to options pricing models, there should not be any preference to credit spreads or debit spreads. Many traders tend to like credit spreads since they are receiving money, but, in theory, they are paid slightly less due to the cost of money. Traders need to be aware of the risk/reward relationships between debit call spreads and credit put spreads and credit call spreads and debit put spreads. These relationships should be about equal, considering the cost of money (with identical strike prices). Traders need to be comfortable with whichever strategy they select. Personal preference might play a role in deciding if debit or credit spreads make more sense for you.