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Username: BobM Rating:  Asked to: Talitha Taslim Date Created: 06 Jul 2015 |
| Category | 28 |
| Tag | Financial |
| Question | What is the difference between a credit card and a debit card? |
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Hi BobM, 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. They both offer convenience. The fundamental difference between a debit card and a credit card account is where the cards pull the money. A debit card takes it from your banking account and a credit card charges it to your line of credit. Debit cards offer the convenience of a credit but work in a different way. Debit cards draw money directly from your checking account when you make the purchase. They do this by placing a hold on the amount of the purchase. |
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