What is a Debit card and Credit Card
By stylewaves
@stylewaves (1060)
India
5 responses
@raj_gupta (311)
• India
18 Jun 11
Well as you know what credit card is, the difference between the two will enable you to understand the whole concept of credit card.
While using Debit card you are actually using your money that you already have in your account with the card issuer, while in case of credit, you are making a promise of paying the money through the card issuer. Also there is almost always a PIN that comes with debit card that you have to remember, but in case of credit card, you just have to have the card, no PIN.
For more info... http://en.wikipedia.org/wiki/Credit_card
@AgentGulaman (3546)
• Philippines
18 Jun 11
Hi raj_gupta! Thanks for the information. It was very helpful. I really don't know the difference of a debit card and a credit card before until now. Can you still elaborate on the advantages and disadvantages of using a debit card or a credit card? Which of them is better to use in your opinion? Maybe you can suggest to me what to use for a budding professional like me. I get offers now regarding credit cards and I just want to know what good it will do to me. Thanks!
@ravisivan (14079)
• India
18 Jun 11
When u buy using a debit card your bank account will be debited. So u must have balance in ur bank account. In a credit card u have limit allowed and upto that u can buy. If you are not paying the money by the due date you will be charged extra interest and that is at exorbitant rate. So you must use credit card and pay before the due date.
@dont_pick_your_nose (2279)
• Australia
18 Jun 11
Yes that's exactly how it works. I deit card works in place of a credit card, but you se your own funds. Therefore you can only spend the money that is in your bank account and you cant actually access credit, you can only choose that option in store and have the balance come off your total. You can use this card on this site provided it has a visa sign in the bottom right hand corner.
@stylewaves (1060)
• India
18 Jun 11
Very very thanks for the Information , ok then , that mean we can use the Debit card in the place of a Credit card
@dark_joev (3034)
• United States
18 Jun 11
Yeah you can. The Debit/Credit Card are interchangeable. And well they will charge it as a Credit Card which won't change anything on your end besides how long it take for them to process it and the actual transaction to hit your account.
So yeah he won't have any issue using his Debit Card in place of a Credit Card.
@JenInTN (27514)
• United States
19 Jun 11
If the debit card has a credit card logo on the front, they can usually be used as either one. It is an option so that if someone is at a place and they don't accept debit cards..it can be used as a credit card. Or vica vesa. Even though the debit card is being used as a credit card, one still won't be able to use it for over the amount they have in their account. Unless they have overdraft protection or a credit limit attached.
@lilbabycatapillar (497)
• United States
18 Jun 11
Yes, you can always use your debit card as a credit card, even if you are at a store or shopping online. This just means you will not have to use your pin, and it might take longer for the store to withdraw the money from your account. But it's the same idea and there is no extra charge.
