Mohamed
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Beautiful question.
Debit is when you have money in your bank account.For
instant your checking or savings account.Its just like cash.
There is no interest to repay.
Credit is money your are borrowing to pay for a purchase.
There is interest to be paid.
Good day to my neighbor from Queens NY
Mohamed |
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'Old & Cudley'
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Debit pulls the money immediately from your checking account.
Credit, you at least have 30 days or more to pay it with interest. |
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Sammy
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THEY'RE REALLY ISNT A DIFFRENCE DEPENDS ON UR BANK BUT DEBIT CARDS ARE USAULLY YOUR MONEY FROM UR CHECKING ACCOUNT AND CREDIT IS WELL CREDIT BUT ON AN ATM CARD IT DOSENT MATTER CUZ IT STILLCOMES OUT OF YOU CHECKINGS WHICH IS THE MONEY YOU PUT IN THE BANK |
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Tom S
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"Technically" there is no difference. Some merchants charge fees to the card user depending on which option is used. When they ask "credit or debit" tell em "whichever is free" |
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♪♫Jay is Sexy♪♫
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Well when you use credit it takes awhile for the transation to be posted.. and when you use debit the money comes out right away.
Now examples of why you would use this.. Say you needed to pay a bill but you really didnt have the money there yet but you will that day.. you can use credit and within 24 hr minimum they will charge your account. And Debit you want to get it out right away so you dont have to think about it you charge pay it right away also with that benifit you can get cash back too.. |
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csjs536
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Debit is: removing the money immediately and using a pin number at the time of the transaction.
Credit is: using it like a credit card only it will be taken out of your account automatically in approximately 3 days. |
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masfonos999
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An ATM card from your bank is probably just that: an ATM card, used solely for taking money from your bank account from the ATM.
A debit card can be used at stores and whatnot to take money from your account, just like writing a check.
A credit card is used at stores and whatnot and is essentially borrowing money from the credit card company and promising to pay it back.
Many credit cards allow you "cash advances," which lets you take money out of an ATM as if you had an account, but what you are actually doing is borrowing money (usually at a higher interest rate that takes effect immediately rather than waiting until the next billing period). |
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toolshuggah
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It's always better and safer to use debits cards rather than credit cards because you're more likely to run up a debt with a CC and get bad credit, whereas using a debit card increases your credit and will not withdraw funds that you don't have. |
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Advice*is*free
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Debit means they are taking out money that is already there credit is money you say you will pay later. Not a stupid question you don't know if you don't ask. |
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Feeling Mutual
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Credit pre-authorizes an amount in some cases, like for gasoline. It might preauthorize $50, then charge $50, reducing your available balance by $100 temporarily for a few days.
On my PayPal Credit/Debit card, I get 1% cashback when used as credit, but no cash back when I use it as a debit card. |
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Sam G
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Nothing if you are making a purchase. By using it as a debit card, you can get cash back assuming you have enough money in your account. Whether you use it as a debit or a credit card, the money comes out of your checking account.
With a true credit card you get a monthly statement showing all your purchases. You can get a cash advance up to your credit limit, but the interest rate on that is very high. You do not pay interest when you get cash back on a debit card transaction. |
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Owen K
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Debit takes the money out of your account straight away, and Credit means you pay it off at the end of the month... I think. |
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Dani
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debit will come from your checking account... much like writing a check, so be sure to record it. Many people use a debit card rather than a checkbook.
Credit means you are charging it and that bank will let you know by sending you a statement in the mail. |
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