benson jasmin
 |
The main difference is the way the card works and where the money comes from. Debit cards can be used as either a debit card or credit card. Credit cards can only be used as a credit card. Debit cards do not carry a line of credit. The purchases made with a debit card can not exceed the amount of money a person has in their bank account. This is the main difference between a credit and debit card.
Another major difference between credit and debit cards is the risk involved. Because they are attached to a bank account, loosing a debit card is very risky. A person does not need a pin number to use a debit card and therefore can easily drain a persons bank account, causing extreme problems.
With a credit card the only problem is proving that someone else used the card. With a debit card the persons has to figure out how to get their money back and if any checks bounced they are responsible for those as well. The legal liability is much greater with a debit card than with a credit card. Go to : http://www.credit-card-gallery.com/ and get a best credit card according your credit. |
|
sapphire
|
When you use your debit card the money comes out of your checking account. You can not use it if there is no money in the account. But it is nice to have one because some places online only take cards with a Visa or Master Card logo on them,and most debit cards do.
A Credit card is a card where when you use it the money is coming from a "loan" you have to repay back each month. They get you introuble because you are very apt to go spent 300 dollars on not caring if you can pay it back in time. And then you will end up in debt and wish you had never got it in the first place. |
|
Jeevan Kumar Mittal, 1956
 |
You can spend your own money in DC. In CC, you spend other's money. In DC, balance in your a/c is limit, You can change this limit. In CC, limit is fixed at the time of application. You pay intt. in CC |
|
NeelS
|
Debit Card is directly linked to your Savings account in the Bank. Whenever you purchase something and give your Debit Card, then the amount in your savings account will be reduced based on your purchase.
In case of Credit Card, you do purchase without having any money in your account because it is not related to your Savings account at all. At the end of the fixed tenure, they will send you the details of your purchase for the period and you need to pay them back. |
|
google
|
In credit card you pay later after you purchase the things.you can purchase to the extent of credit limit. debit card means the cost of things you purchase will be debited from your account immediately, if you don't have sufficient balance in your account it will not work. due to insufficient balance. |
|
CupCake
 |
When you use a debit card, the funds are deducted from your checking account for the purchase so essentially its as if you are paying with cash. With a credit card, you will be assigned a credit limit on a card. When you make purchases, the limit will decrease for the amount of the purchase and you begin to accrue interest on the charges. You should receive a monthly bill for these charges where you will have to pay on time at least the minimum amount due or you will be charged penalties. |
|
cheyene
|
When you use your debit card, it is taken out of you bank account. If you use your debit card as a credit card it also comes out of your bank account.
When you use your credit card, it is considered a loan. You usually have 30 days to pay the balance without paying finance charges. After that you will be charged finance charges on the balance due. |
|
soccerrr =]]
 |
Credit card is you get bills and you pay monthly
Debit card comes directly out of your checking account, and when your money is already there when you get the receipt you dont need to sign. |
|
Kiran
|
Credit Card = Enjoy others money till the credit card is seized by the company.
Debit Card= You can't the above because you need to have your own money in bank before you swipe. |
|
Sarah K
|
Credit card: Can put you into serious debt if misused, but are only liable for $50 if it's stolen. Will offer protection on many purchases (such as insurance on a rental car from some credit card issuers) and builds a credit history.
Debit card: Can end up in serious "overdraft" fees if misused and wipe out what money you have on hand, can wipe out all of your money if it's stolen (though some banks will immediately put the money back, Wachovia, for one, takes several weeks until it closes its investigation). Does not offer protection on purchases and does not build a credit history. |
|
Shades of Green
|
Credit Card: You have a maximum credit line (how many credit dollars to the account), and you buy first, pay later. If you don't pay off your monthly balance you accrue interest and that's what gets you in the end when you start paying more because of interest.
Debit Card: You have no maximum card balance, it's as much as the money you have in your account. Charges on your debit cards are deducted immediately, it's like spending cash. You will not get a monthly statement with how much you owe, but you risk over withdrawal. Over withdraw is when you use the card to buy something that costs more money than what you have in the account. Usually there is a hefty over withdrawal charge. |
|
SKYDOGSLIM
 |
Credit cards---------borrowed money
Debit cards-----------your money |
|
robertspraguejr
 |
A debit card deducts money you have in your checking account. A credit card charges you money you will have. With a credit card, you have to write the bank a check every month until you pay off the entire debt. Additionally, you have to pay interest with the credit card, so using your debit card is preferable. People get into trouble with credit cards. |
|
florine
|
Credit card - you are paying on credit of the card company, and have to pay of their bill when that falls due.
Debit card - you pay directly from your account with the card issuer when the transaction takes place. There are no bills to settle at the end of the day. |
|
Shelly t
|
a debt card is a card with a direct link to your checking acount the same as righting a check. stores perfer it as they do not have to pay a percentage fee.
A credit card is a card that charges the stores a percentage fee for the amount of money you spent in the store. And you pay it back when you get your statement. Or you make payments on it. or you don;t pay at all. |
|
Ask Shirley
|
Debit takes money out of your bank account. Credit give you a bill and you pay later. I would rather have debit. |
|
holykrikey
|
credit cards give you the "credit" or money to use based on your payment history or credit report. A debit card is issued by a bank and link it electronically to your money in an account like a checking account. Check card and debit card are the same thing |
|
M Kerr RN L&D
|
Debit card comes directly out of your checking account, money is already there
Credit Card you make monthly payments on |
|
Kkuy
|
Debit Card - Using funds that are available in your checking account. It has 2 options to use Credit or Debit. Debit simply takes it immediately while Credit will take a couple days to retrieve the money from your account.
Credit Card - Is a certain credit that they offer you. For example you have $2000 credit limit. You may use it up to that amount but you will have to pay the minimum monthly payments which includes interest. Basically it's borrowing money. However, it is always good to have credit cards to build credit. Just use it wisely and pay the monthly payments on time. |
|
ryansvs650
|
With a debit card you are spending money that you already possess. When a debit card is swiped it reserves money directly from your checking account almost instantly and clears after verification.
With a credit card you are spending money that you will need to repay with interest. Interest is a percent of the amount (or principal) you have borrowed.
It is possible to process a debit card as a credit card transaction. The money still comes out of your checking account except it usually takes a few days to process. If you run a debit card as a credit transaction you are not charged interest.
Hope that helps:) |
|
$m¤¤v¥ £¤¢¤
 |
Here's the difference between debit and credit cards.
Debit- You spend what you load onto the card. Once it's gone, it's gone.
Credit- The credit card company determines your credit line, you pay back what you spend, just like a regular credit card. Plus there's interest that's charged if the full amount isn't paid off.
Usually, all credit cards reports to all 3 bureaus, while not all prepaid cards report. AccountNow (http://www.accountnow.net/#) is the only one that builds credit by reporting online bill payments to PRBC, (http://prbc.com/default.php?) a consumer reporting agency |
|
Misty Bella
|
A debit card is connected to your checking account. Whenever you use it, the money comes right out of your checking acct. A credit card is not connected to any acct. When you use that, you are using credit and building up a balance that you have to pay back in monthly payments |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
