i have a credit-debit card if i were to spend like 200 dollars in credit what exactly would happen after that?

Question

this is my first bank account and i dont understand anything about it!!

Answer 1

Credit-debit cards can be used like regular credit cards up to the amount of funds you have in your bank account. They are not like "unsecured" cards where you buy something with the card and pay it off later.

So if you used your card like a credit card to charge $200, it is the same as if you had pulled $200 out of your bank account in cash instantly to make the purchase. So...make SURE you check your account balance regularly, so you don't make the mistake of overdrawing it. And also allow a day or two for charges to post to the account.

The "debit" part means that it is used like a debit card, where you can take money out of an ATM machine, or use a machine in a store to buy something on debit, meaning you enter a number code to buy instead of signing a charge slip (again, only up to the amount you have in your account).

Answer 2

Using your debit card that has a credit card logo on it is just like writing a check...

You swipe your card at the store and push credit (you should ALWAYS push credit because you are covered under the zero fraud policy on your card, if you enter your pin number you are not covered)...you sign your name and the transaction is completed

The store processes your transaction and within 2 or 3 days (sometimes instantly, this depends on your bank and the store) the money is taken out of your account.

If you do not keep track of your purchases in a check book register and you spend more money than you have (remember the computer that runs your card may not have your exact up to date balance at all times, so you need to know what you have and not overspend) the transaction may process thru your bank and overdraw your account...in this case your bank will charge you a NSF fee (usually between $28 & $35).

So you see, just beause you choose credit you are not actually using a credit card...you will not get a bill at the end of the month or anything like that, the money comes right out of your checking account and you are immediately responsible for what you have spent.

Answer 3

Then you are using 200 dollars of the money you placed in the account. The card you have is a bank/check card with a major credit logo. The card can be used as credit or debit.

Answer 4

The credit/debit cards, usually called check cards are backed by a credit company (Visa, mastercard).

You're not so much supposed to use them as a normal credit card. The idea is that they will back your purchase up if you don't have funds in your account, but you usually get a fine for going over your balance.

Answer 5

Being a theif is one element. Being a thief and a liar is yet another. in case you're 13 years old you probable have particularly some gaining wisdom of to do while it consists of investigative stuff. The credit card greater suitable than probable will tutor the place it grow to be offered and probable a city and state. My wager is which you probably did not get too a great way out of your place and it would be consumer-friendly on your dad to determine the clues out. many times credit card fraud occurs in a thoroughly random state. you may come sparkling.

Answer 6

With a debit card, your checking account takes the money
out right away (like paying cash without carrying money)

Answer 7

Well, if you did not have enough money in the account---you will be charged big fees. If you don't keep on top of it, you will be charged more fees.

Be very careful with using your card-or you will end up spending a lot of money for nothing.

Answer 8

It's just like writing a check. The money comes directly out of your account. You must have funds available to cover the amount of the purchase.

Answer 9

well...WHO CARES!