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For consumers, the difference between a "debit card" and a "credit card" is that the former immediately deducts the balance from a checking or savings account, whereas the latter allows the consumer to spend money they might not actually have (but promise to pay later to the card-issuing bank).
taken from: http://en.wikipedia.org/wiki/Debit_card |
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northville07
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debit you spend how much YOU have got
credit you spend the BANKS money, then pay it back in instalments |
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Mark
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A credit card means you pay the bill each month and if you dont there is interest add.
A debit card is a modern cheque and the money goes straightaway, well pretty much. |
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mybeadyeye
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with a credit card you are mounting up a bill that you will have to pay back to the lender. Often you will have to pay interest on top, especially if you do not make your payments.
a debit card uses your own money - your own bank account is charged. there needs to be enough cash in your account to cover what you are buying. |
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Ariana
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A debit card is a bank card that allows you to spend your own money. A credit card is an amount that you borrow everytime you spend. And you pay interest for the privilage. |
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keyhole kate
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a debit card is you can only spend what is in your bank account it comes straight out of the account.
A credit card is when you have a limit to spend and you can pay it off monthly with interest added or if you pay the full amount what you owe there is not interest, |
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ᵸᵃṩᵢᴄᶦṱ☔
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debit is your money the card just basically guarantees payment
credit is money you are borrowing from the bank and pay back a monthly minimum at an arranged intrest rate. |
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gpatrick900
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One correction. You can use a credit for cash advances at atms. Your will need a pin for that,
As to your question. See this blog list below.
Running a debit card with a MasterCard or Visa symbol as a credit. Does not mean your will get a bill at the end on the month. It means the money will be deducted from your checking account right away.
France has a deferred debit card, which operates like a normal debit card, except that all purchase transactions are postponed until the end of the month, thereby giving the customer between 1 and 31 days of interest-free credit. |
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Paddy
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A credit card gives you instant access to a loan repayable at an interest rate determined by the card company. A debit card is issued by a bank or building society and allows you instant access to your own account in that bank or building society. |
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olivia
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debit card is from a bank. credit card is from a credit card company. |
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GTW
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Credit cards you are using somebody elses money, debit card is use like a credit card but it comes out off your bank account which means you have to have funds other wise you will be paying over draft fees, www.fastcreditcardapprovals.com is a great website where you are able to compare credit cards if you are looking for any and what to compare. |
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tom
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credit card=banks money you must pay interest
dedit card=your money in the bank you pay for it no outstanding interest |
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Rainia W
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I am confused about the difference in the US, but in Canada, a debit card is basically a card where you access money you have stored. It is money you have earned, basically cash on a card.
A Credit card isn't your money... it is money you are borrowing from the bank. Say your limit is 10 000, then you can borrow up to that amount, and you pay monthly interest payments and sometimes other fees. |
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business credit cards
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You cannot use a credit card in an ATM machine to obtain cash only debit cards can do that. However, today there are credit cards that function both as a credit card and a debit card at the same time. In this case, it is possible to use your credit card with an ATM machine to get the cash you need. Link below is the article I've written about credit cards. |
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Babe
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A credit cardis issued by a credit card company and a debit card is issued by a bank/building society. |
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