2007-09-29 22:39:38 · 8 answers · asked by Guru B 2 in Business & Finance ➔ Other - Business & Finance
Credit is what you borrow from the bank and have to pay back in the form of a bill each month.
Debit is where the money you're spending comes directly from your checking account. It's the same thing as having cash on you basically. When you pay with debit, most places will give you cash back from the register like an ATM if you choose to :)
Take Care :)
2007-09-29 22:48:43 · answer #1 · answered by Jennifer™ 3 · 3⤊ 0⤋
Debit means there is a limit to it like you put this much amount in the credit card and that's how much you're allowed to use. Credit means that you can buy as much as you want (but there is a limit depending on the card--but not like debit) but at the end of the month you have to pay all that is due for the credit card.
Hope it helped!
xx
2007-09-29 22:43:57 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Debit means you take away or subtract from and credit means you add to.
2007-09-29 22:43:36 · answer #3 · answered by bountyhunter101 7 · 0⤊ 1⤋
From my CLEVER teacher in aaccounting Debit is the table seen on the left side and Credit can bee seen on the right side. no one can ever interchange this ^^
2007-09-29 22:47:26 · answer #4 · answered by Roger27 1 · 0⤊ 0⤋
Debit = removing from your account
Credit = adding to your account
2007-09-29 22:47:43 · answer #5 · answered by Tripitaka 2 · 1⤊ 2⤋
debit comes directly from your checking or savings account at the bank.
Credit is money you don't have, but intend to pay back to the card issuer over time.
2007-09-29 22:44:44 · answer #6 · answered by Heather R♥se 6 · 2⤊ 0⤋
When a check clears your account, the amount is Debited.
When a deposit is made, it's Credited.
2007-09-29 22:48:04 · answer #7 · answered by ed 7 · 0⤊ 2⤋
I agree with Herbie.
2007-09-29 23:18:02 · answer #8 · answered by carl l 4 · 0⤊ 0⤋