Debit or Credit? What is the difference and which should I use when paying with a bank card?

Answer 1

******THERE IS A DIFFERENCE***********
ALWAYS TAKE THE CREDIT OPTION, THEN YOU WON'T GET CHARGED THE POS FEES.
PLZ TRUST ME ON THIS ONE!

Answer 2

All the money comes out of your account. I don't think some of the people that answered really understood your question. If you use debit you have to enter a pin, I don't really think that's a good idea because then people can get a hold of your pin. I used to work somewhere that had a machine set up on the debit swip thing and it stored the pin number in the company records. If you use credit it still comes out of your account but you have to sign for it.

Answer 3

Which you use is really just your preference. If you use Debit and enter your pin, you will have the option to get cash back. Credit purchases require a signature and do not allow for cash back. So it is just a matter of which you think is easier. Also some banks have special reward programs where you earn points toward prizes for purchases done as a credit. That may help make your decision easier.

Answer 4

A debit card is issued by your bank for withdrawing money from your checking or savings account. (Use debit). A credit card is issued by any bank for the purpose of using it to make purchases and then to pay them back with interest. In this case, use credit.

Answer 5

When I use my bank Debit card I pay by debit and enter my PIN on the keypad. The money comes out of my bank account (almost) immediately. It may show up as Pending on my account until they process the payment that same night, but the total balance on the account will be immediately reduced by the amount I've spent.
You can pay by credit with the card and sign for it but it will still go out of your bank account as above.

Answer 6

This one is easy. Debit cards let you buy things with money that's in your checking account. Credit cards let you buy things that you will have to pay back later. DON'T USE A CREDIT CARD. PERIOD. If you don't have the money to pay for something, save until you do. The average American has over $9,000 in credit card debt and all of them thought they could pay back the money without a problem. Don't become a statistic. Keep a credit card for emergencies only and don't use it unless it's life or death!

Check this out:
http://money.cnn.com/magazines/moneymag/money101/lesson9/

Answer 7

debit is like a check
and credit is like a loan

so if you have money use your own
if you need money use a loan

Answer 8

if you are using a debit card ther is no difference, the only difference is entering your pin, it doesn't cost any more either way