The post office recently said they'll accept a DEBIT card but not a CREDIT card (or maybe it was vice versa). Anyway, what's the difference?
I was embarrassed to ask the postal clerk for an explanation because I thought I'm already supposed to know....but it was in reference to a MasterCard, which I always assumed was a credit card.
- AmyLv 74 weeks agoFavorite Answer
A debit card does the same thing as writing a check: it takes money from your bank account. If you don't have enough money in your account, the card will be rejected.
A credit card takes the money from MasterCard, who later asks you to pay it back with interest. You are limited to borrowing a certain amount based on how much they trust you.
If your card does not say "DEBIT" on it, then it is almost definitely a credit card.
- Anonymous4 weeks ago
Credit card companies charge retailers a usage fee, usually about 3%. Most retailers will pad their bills to hide the cost. Debit cards do not have a usage charge and are treated just like a cash transaction.
- Elaine MLv 74 weeks ago
They have always accepted credit cards. Mastercard, Visa and Bank of America. Not the Discover card, or debit cards.
- OrlaLv 64 weeks ago
A debit card allows to to withdraw money from your account. Money that's already there. A credit card allows to to borrow money usually for purchases to be paid back later.