What’s difference between credit card and debit card?
I got chase bank visa debit card I just want to know difference.
- Mr. SmartypantsLv 71 month agoBest Answer
With a credit card, when you use the card, the bank pays the bill. Then they send you a bill at the end of the month for everything you bought that month. You can pay it all off right then, or take it out as a loan and pay it off over time, with interest.
With a debit card, you put the money in an account first, and when you use the card it pays out of the account. You can't spend more than is in the account. You can't go into debt.
- InLv 61 month ago
A debit card is drawn off of your bank account balance usually for no charge. A credit card borrows against a fixed line of credit and charges interest and fees.
- Anonymous1 month ago
Credit cards are for people with good credit and full time jobs.
- JudyLv 71 month ago
With a debit card, you can only spend up to the amount you have in your account.
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- mokrieLv 71 month ago
Debit cards take the money out of your saving or checking account to pay for things. Credit cards are a loan with high interest rates that pays for things.
- BillLv 61 month ago
debit card is you using your money and not the banks
credit is you borrowing money from the bank at ridiculous interest rates
- Kid MohawkLv 41 month ago
A debit card withdraws from your own funds, while a credit card borrows from someone else's with the intent that you will pay it back with interest.