HI, Whats the Difference Between Credit and Dedit Card

[Choto Cheeta]

Hi,

I want to know that wats the Difference Between Credit and Dedit Card?? Both look same to me...

thank you..

[Admin]

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.

[Jenita]

A debit card works very similar to a credit card. It is accepted for purchases anywhere MasterCard® is accepted. The difference is a debit card draws funds directly from your checking account. A credit card draws funds from an available line of credit.

[master01]

While they may look alike and can be used for the same purpose, the main difference between a debit and a credit card is whose money you're using.

Debit card: your own money
Credit card: a lender's money

[darsh999]

In my views main difference between a credit and debit card is that credit cards are provided to you through credit,according to available balance on your account is money that you do not own. it means credit offered to you based on your credit report.

Debit cards are those cards in which you have to to deposit money into the account before you can use any of the available funds. They are lots of companies making debit and credit card both.