farrell h
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Credit. Every time you use a credit card, you are actually borrowing money that is made available to you by a bank or other financial institution. The institution pays the debt to the vendor, and in turn, you pay the money back to the institution. By signing up for a credit card, you agree to pay back the money that you borrowed, in addition to any interest drawn on the amount you borrowed.
Debit. Odds are, you have a debit card in your wallet or purse right now, since many ATM cards are programmed to have debit options. Issued by your bank, debit cards take funds directly from the money that you have in your bank account--in a sense acting like a check, just faster. With a debit card, you don't have to carry cash or checks, and it is very convenient to shop at a variety of places including gas stations, grocery stores, restaurants, and retail stores. They provide instant access to your money and are accepted worldwide.
Debit cards are used like credit cards, meaning that the store you are shopping at 'swipes' them, and then you sign off on the receipt. You don't have to show a picture ID, and there is usually no PIN number for you to punch in. You ca apply online for a best credit card at: http://www.credit-card-gallery.com/Guaranteed_Approval.html and get instance approval. |
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Nitro Pipes
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A debit card can only be charged up to the amount of liquid cash in the account.
A credit card can be charged up to the credit limit of the card. |
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Kendra
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A debit card, the money instantly comes directly out of your bank account. Whereas a credit card it is a bill you pay later. But if your Bank debit card has the option of credit, the money still comes out of your bank account but it comes out a few days later instead of right away. |
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mark533789
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Debit card = its used like an ATM card that withdraws money directly from you checking or savings account. in fact, the debit card we use today began as an ATM card. Be careful! if you don't have the founds in your account to cover your purchase, the bank will still approve the purchase but, now you owe the bank for over drawing on your account and you may also pay. Balance your account every month. On the back of you monthly bank statement is a form you use to balance you account. CC = you are borrowing money from a bank. you have a limit on how much you can use. lets say $500.00 So, the balance you owe on the CC can never exceed $500.00 if it does you pay a penalty and my reflect negatively on you credit report. use CC and debit card carefully. the banks don't care about you. they make the most money from people that pay high interest rates and penalties. |
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maria
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Debit cards take money out of your checking account and require a pin. Credit cards are based on your line of credit and you have to pay them off after you receive the bill. |
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2shay
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if you go to the store and you use a debit card, it takes the money directly from your bank account. Debit cards do not charge you interest nor do you get a bill sent to your home each month.
A credit card is not linked to your bank account, you get a bill sent to your home and you get charged interest.
Now running your card as a debt or credit is different too. Sometimes running your bank card as a credit will delay it hitting your account rather than debit which is supose to be immidiate.
Careful using debit cards your bank account information may not be updated and you might think you have more money than you do because a transaction has not hit the account. Be sure to wright everything down.
I made this mistake and it is a $803.75 mistake. |
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Big-T
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Debit comes streight out of your bank account and a credit card you have a receipt which you have to sign and pay later. |
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(^-^)-♪
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a DEBIT CARD is something that withdraws from your bank account as soon as the purchase is made.
a CREDIT CARD is something you can use to pay with non-existant money, and are billed at the end of the month for whatever you spent |
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Lisa
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Yes. With the debt card you are accessing your bank accounts money. With a credit card you are borrowing a corp banks money at an outrageous percentage rate. |
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behappy333
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when you use your debit card, the purchase you made subtracts money straight from your bank account. when you make a purchase on a credit card, you have to pay it off by the end of the month or it will accrue interest (depending on what kind of credit card you have). |
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corporal.hicks
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Debit is pretty much like a gift card, it's money in a card. Everytime you use it the money you have in an account is taken away
Credit, is money you don't necesarily have. You cna have ten bucks, and spend 20 bucks with the credit card which you will have to pay eventually, and by making payments they charge you an ionterest for lending you that money.
Best thing to do with a credit card is use it like a debit card, don't us emoney you don't have and your credit will be perfect and you won't pay extra on interests |
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Double A
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I debit card is linked to a bank account - using it is just like writing a check - you have to have the money in the account in order to use it. With a credit card, you are borrowing the money from the credit card company and then you have to pay it back. |
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mikecraig11
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Debit: The money gets taken out, or debited, from an account balance.
Credit: There is no money in the account. Money is spent that you don't already have, so it's spend on "credit". This credit is paid back with interest, since you didn't already have the money. |
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deltronone
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Debit card = money you have in the bank.
Credit card = money you don't have but will have to pay back over time. |
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chris D
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a debit card draws from money you already have in an account that's attached to it. a credit card draws from a major bank that you will have to pay back. |
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angela
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When you use a debit card the money comes directly out of your checking account, usually that day or the next. When you use a credit card, all of your charges for the month are recorded and you are sent a bill at the end of the month. If you don't pay the full balance each month then you are charged interest. |
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Trina O
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A debit card takes funds directly from your bank account and a credit card loans you money with an interest rate and then screws you over. |
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Barkley Hound
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Using a debit card is like writing a check except the money comes out of your checking account immediately.
A credit card loans you money that you pay back monthly. |
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misty r
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a debit card is basically a gift card...so it runs out of money and you cant put more $ on it. |
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Missy
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Debit card comes directly from an account that you put money into at you bank. I t may have a visa/mc logo on it but you may only spend what is in your account. A credit card offers you a credit line based on your given credit score. You need to apply to the credit card company to get the card, and you get billed monthly on your purchases, and you pay interest on your purchases. |
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