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Q.

Wat is d difference betwen debit card nd credit card ?

Tags: wat, difference betwen, debit card
Asked by APURVA GUPTA, 20 Aug '12 09:52 pm
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Answers (3)

 
1.

Credit. Every time you use a credit card, you are actually borrowing money that is made available to you by a bank or other financial institution. The institution pays the debt to the vendor, and in turn, you pay the money back to the institution. By signing up for a credit card, you agree to pay back the money that you borrowed, in addition to any interest drawn on the amount you borrowed.

Debit. Issued by your bank, debit cards take funds directly from the money that you have in your bank account--in a sense acting like a check, just faster. With a debit card, you don't have to carry cash or checks, and it is very convenient to shop at a variety of places including gas stations, grocery stores, restaurants, and retail stores. They provide instant access to your money and are accepted worldwide.

Debit. instant access to your money, lack of a PIN number, and not having to drag out your photo ID when you use it--make fraud that much easier. Unless reported quickly, theft of your d ...more
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Answered by anantharaman, 20 Aug '12 09:55 pm

 
  
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2.

When you use debit card your money is deducted right away from your bank account, and when you use credit card you promise to pay it later.
For debit card you have to have money in your account whereas for credit card you don't . You can pay it later.
Answered by Avantika, 20 Aug '12 09:55 pm

 
  
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3.

Hi Friends,

Debit cards and credit cards are accepted at the same places. Debit cards all carry the symbol of one of the major types of credit cards on them, and can be used anywhere that credit cards are accepted.he fundamental difference between a debit card and a credit card account is where the cards pull the money. A debit card takes it from you banking account and a credit card charges it to your line of credit.

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Answered by Probondins, 22 Oct '12 11:12 am

 
  
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