what is the differance bettween a debit card and a credit card?

Question

and whitch is better to own debit card or credit card?

Answer 1

A debit card takes money out of your bank account. Its money you already have.
A credit card borrows money from a company, like a loan.

It depends on whether you want to get into debt or not which is best for you.

Answer 2

A credit card is an established line of credit/ a loan if you use it with loan terms. A debit card deducts from your checking account alone and is not credit, if the funds are not there then the card can't be used for both. The debit card is the best as you are limited in your spending therefore better off than making long term monthly payments etc. Tip..when you use a debit card and it asks you credit or debit, always say "Credit", then there is no additional charges unless ATM fees.

Answer 3

As everyone has said a debit card is straight from your account, a credit card borrows money.

Yes you will incur interest from the credit card company if you don't pay within the allocated time however if you use a credit card on a monthly basis and pay the amount of then your credit rating increases, this can then help you in future should you want a mortgage or loan, etc.

Answer 4

with a debit card the money comes straight from your bank account, with a credit card you get a bill at the end of a month which you then pay off or not as the case may be. I prefer a debit card

Answer 5

A debit card is used to debit the cash out of your current account.
a credit card comes with a credit limit, say £1000, you can then spend up to that limit and repay a percentage of the debt each month, typically 5%, so on a £100 balance your payment would be £5.
However, it is easy to get over your head in debt with a credit card, whereas with a debit card you can only spend what you have.

Answer 6

A debit card takes money from your bank account, no money, no debit.
A credit card goes onto a bill that you get sent each month and you either pay in full or at a minimal fee.
I don't have either, but if I did it would be the debit card, credit cards are like your good and bad dreams rolled into one, great when your using it, a nightmare when you see how much debt your in.

Answer 7

A debit card takes the money from your personal current account immediately, whereas a credit card is a means of borrowing money from the card issuer on a long-term basis.

Debit cards are better as they don't let you end up in debt, but credit cards can be useful for larger purchases that you can budget to repay later on.

Answer 8

Debit card- takes money directly from your checking or savings account. Credit card is like a loan with high interest. Go with a debit card.

Answer 9

When you use a debit card it taked the money straight from your bank account . No interest is paid.


A debit card allows you to spend monet you have not got up to a limit and pay interest on the money borrowed if the capital amount borrowed is not paid immediately at the end of the month.

Answer 10

If you can budget and are in control of your finances then you are fine with a credit card, because you get time to pay with a credit card i.e. ie buy now pay later, a debit card just takes the money out of your account there and then, much better if you can't handle debt and credit.

Answer 11

A debit card only utilizes money that you have in your bank account, whereas a credit card is like someone loaning you money each time you use it. Since a credit card charges interest but a debit card usually doesn't, I would say a debit is better.