whats the difference?

Question

whats the difference in debit card and credit card

Answer 1

Debit means you are on your own savings whatever you do, you get interests for having the money in the bank but the wont lend you a penny
Credit means the bank pays for you but you'll have to eventually pay it back with some interests added to the otiginal price also you'll get interests for keeping the money in th bank

Answer 2

With a debit card you have a debit account, this account has money already in it and when you but things with a debit card it takes money out of that bank account.

With a credit card you get a bill for however much money you spend.

Answer 3

Debit card = Money comes directly out of saving or checking account
Credit card = you have a credit limit can charge any amount up to it...pay minimum monthly payment or any amount above it.

Answer 4

one is credit and one is not. a debit card debits your account instantly, and a credit card is just that, credit...you get a bill at the end of the month for spending money that wasn't yours.

Answer 5

with a debit card you must have the money in your accout and it comes out immediately-just saves you having to carry cash

with a credit card you buy what you want and pay it off later, you can spend up to your limit even if you dont have it,
awful easy get yourself in debt though, and crazy interest rates on what you owe

Answer 6

A debit card draws money from an existing account, like your checking account.

A credit card is based on trust that you will pay the money back with interest at a later date.

Answer 7

debit comes right out of checking acct,credit is a loan with interest charges...