What’s difference between credit card and debit card?
I got chase bank visa debit card I just want to know difference.
- Mr. SmartypantsLv 79 months agoFavorite Answer
With a credit card, when you use the card, the bank pays the bill. Then they send you a bill at the end of the month for everything you bought that month. You can pay it all off right then, or take it out as a loan and pay it off over time, with interest.
With a debit card, you put the money in an account first, and when you use the card it pays out of the account. You can't spend more than is in the account. You can't go into debt.
- Anonymous9 months ago
Credit cards are for people with good credit and full time jobs.
- JudyLv 79 months ago
With a debit card, you can only spend up to the amount you have in your account.
- mokrieLv 79 months ago
Debit cards take the money out of your saving or checking account to pay for things. Credit cards are a loan with high interest rates that pays for things.
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- BillLv 69 months ago
debit card is you using your money and not the banks
credit is you borrowing money from the bank at ridiculous interest rates
- Kid MohawkLv 69 months ago
A debit card withdraws from your own funds, while a credit card borrows from someone else's with the intent that you will pay it back with interest.