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Old 03-17-2007, 09:36 AM
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The main difference between a credit and debit card is that credit cards are provided to you through credit, meaning that the available balance on your account is money that you do not own. Instead it is the credit offered to you based on your credit report.

Debit cards on the other hand, are cards in which you are required to preload or deposit money into the account before you can use any of the available funds. They are kind of like checking accounts without the check writing privileges.

The main similarity they share is that you can use them at any Visa or MasterCard merchant given that carry the respective logos.
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