2007-08-28 01:41:38 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
An ATM card is what is called a debit card the money is in the account and can be drawn out thru an ATM machine but only the amount in the account. A credit card has an allowed amount of payable off credit placed against it it requires set and your choice amounts of money paid into its account every month~~
2007-08-28 01:53:04 · answer #1 · answered by burning brightly 7 · 0⤊ 1⤋
Yes, the original ATM, "automated teller machines", were restricted to withdrawing cash from the machine. Now you can not only withdraw cash from them, but you can also make deposits. Currently, most banks offer a combination ATM and credit card, in conjunction with either Visa or MasterCard. So in actuality you can withdraw cash, make a deposit or use it as a charge card or even a debit card. A regular Visa or MasterCard can only be used as a credit card, so the difference is quite a bit, and the convenience is far superior with the ATM combination credit card. This card is generally reserved for people who have good credit and maintain their checking accounts in an excellent manner.
2007-08-28 10:00:51 · answer #2 · answered by H. A 4 · 1⤊ 0⤋
An ATM card, also called a debit card, is given to you by your bank. When you use it to buy something, the money is taken directly from your bank account. A credit card is given by a credit company. When you use it, the money is paid by the credit card company. You will then get a bill every month so that you can make payments to the credit card company in order to pay them back.
2007-08-28 08:53:48 · answer #3 · answered by Anonymous · 0⤊ 1⤋
yes there is a big difference between this cards, ATM card means normally a debit card which we can withdraw our own amount means our S B a/c deposite amount and in credit card if dont have any balancein our a\c also we can purchase things and withdrawn money on credit through this credit card, and in for this credit card they are giving 40 days time to pay back that amount what we purchased on credit without any intrest, after 40 days we have to pay we have to pay with interest.
2007-08-28 08:54:01 · answer #4 · answered by harsha b 1 · 0⤊ 1⤋
An Automated Teller Machine card uses money in your checking account.
A credit card uses borrowed money at interest. There is a limit on the card...it maxes out at some point and you can't borrow anymore until you pay it off.
2007-08-28 08:47:10 · answer #5 · answered by Anonymous · 0⤊ 1⤋
ATM Is issued by your bank. It's for drawing money out of your account or transferring money.
A credit card is used to purchase goods, groceries, gasoline, clothes.
Do not use your credit care in an ATM machine. It'll work but you'll be charged endless fees.
2007-08-28 08:51:16 · answer #6 · answered by Anonymous · 0⤊ 2⤋
ATM card is for Automated Teller Machines, and cannot be used for credit card purchases.
the ones that can are check cards.
credit cards are run through visa, mastercard, etc.
2007-08-28 08:45:30 · answer #7 · answered by jeff 2 · 0⤊ 1⤋
ATM - withdrawn money in your account (that you have) - credit card money that you don't have.
you can get cards that do both though just to confuse you.
not all credit cards will work in ATM unless you have a pin no.
2007-08-28 08:47:39 · answer #8 · answered by Hope Passion Sanity 2 · 0⤊ 1⤋
yes....but nowadays they function almost exactly the same....there are usually stricter limits on amounts you ccan spend per day with an atm card and cash back fees are usually higher with credit cards...atm cards commonly have visa or mc logos on thenm and CAN be used as credit cards...mine is
2007-08-28 08:45:40 · answer #9 · answered by momofthree 3 · 0⤊ 2⤋