Master card.. credit card.. debit card.. what's the difference?

Malaysia
July 12, 2012 8:14am CST
I read something about those but I don't get it that much. I have a CIMB bank account and on my bank card there is a master card logo on it. But what can I do with it?
1 person likes this
5 responses
@celticeagle (120480)
• Boise, Idaho
12 Jul 12
When you make a purchase online or over the phone they may ask you what type credit card you have. Mastercard would be your answer. They don't have to know it isn't a Mastercard and is a debit card. I have one with the Visa logo on it. It is your choice. So that is what you can do with it. I don't really understand or know why. Just part of our bureauacry I guess.
• Malaysia
13 Jul 12
So a credit card is either a master card or a debit card?
1 person likes this
@celticeagle (120480)
• Boise, Idaho
20 Jul 12
A credit card will have the logo of the company that supplies it to you. A debit card can either have a Mastercard or Visa logo on it so you can use it to purchase items. They will ask you which it is and because it is a debit card you have the choice of either Mastercard or Visa .
@maximax8 (28570)
• United Kingdom
12 Jul 12
The usual types of bank cards are Visa or Master Card. A debit card has a bank account connected to it. You can set up direct debits for it if you like. You can use your debit card to pay things if you have enough money in the connected ban account. A credit card you can spend on up to your credit limit. You will have to pay the money back and a bill will arrive once a month. There will be interest to pay on the amount you owe to the credit card company.
• Bangladesh
12 Jul 12
I think a master card is an international card and we can withdraw money in any ATM booth through out the whole world.
• Malaysia
13 Jul 12
What is direct debits, then? I think I'm going to have to set it up with the bank officer or something? But thanks that's a nice information. Now I knew something about this whole thing.
@Paper_Doll (2375)
• Philippines
13 Jul 12
Hi desiree, credit card can be either Visa or Master card. I am not sure though if they can be both. There are institutions who only accepts Visa card and therefore, I believe that if you have master card, you can't use it there and vice versa. With regards to debit cards, my understanding is it is an ATM card that you use to withdraw money from ATM machines. Like if you have a savings account, more often you will be given an ATM card so you can withdraw your money anywhere.
• Malaysia
13 Jul 12
Thank you there, for the response. I'll consider them. :)
@sjlskl (3384)
• Singapore
13 Jul 12
Master Card and Visa are credit cards issued by different company. Both worked in the same manner, spend first and pay later. The limit is usually about two times your monthly account.However there are some credit cards cater for people with no fixed income but their limit is usually much lower. As for debit card, they are also work similarly to credit card accept that you must have money in the account before you can spend it. How much you have is your limit.
@ARIES1973 (9539)
• Legaspi, Philippines
13 Jul 12
A debit card is just like a cash card. You have to deposit an amount on your depository bank before you can use it.