[DnkH]

I don't know the difference between credit card and debit card. Does anyone know that. If you does, please help me out to get a clear idea.

[blair]

Debit card -- you deposit money into it
Credit card -- you got nothing on it

[Masterminor]

The way my economics teacher put it is that a debit card is your money, but a credit card is not. A credit card is money loaned that you have to pay back.

[Alexandoy]

With credit card, we already know it - use it to buy goods and you pay it later. With debit card, it is like a bank account or ATM that you put in money which you can use to buy goods.

[FuZyOn]

Yup, it's as simple as that. If you're looking to create a card for PayPal or other payment processors then you should go with a debit card.

[mimi88jade]

so easy. credit card is you have to purchase first an item and after a month you'll pay it. I think nowadays it is advantage that you have a credit card, because if you are run out of money and you have no groceries at home you can swipe it out in the supermarket. debit card is the other way because you can't use it if you have no savings in that account or card.hope this helps

[Masterminor]

so easy. credit card is you have to purchase first an item and after a month you'll pay it. I think nowadays it is advantage that you have a credit card, because if you are run out of money and you have no groceries at home you can swipe it out in the supermarket. debit card is the other way because you can't use it if you have no savings in that account or card.hope this helps

My teacher said that credit cards are like a fast track to debt. I'm not sure if it can be an advantage, at least not in the US. In the US the average household is $10,000 in credit card debt alone.

[Cristiane8228]

Really have a big difference because of credit and a snowball and debit ( only use) you only spend what you have.

[grecy0905]

Credit card - it has a money on it, you can withdraw and use the cash advance, you can buy goods but you need to buy in banks as you are like borrowing money from them and you will pay with large interests and until the time you will get defaulter because of the huge interests they gave to your credit card.

Debit card - it is your own money. There is a money inside it that you can use to buy goods. You don't have to pay anything to bank, since that is your own money. This is good than credit card. It is like if you don't want to carry cash, you carry debit card.

[yairhaim]

Debit card - you must deposit money into it
Credit card - you got nothing on it, Its takes your money from your account on the End of the month.

[ksridharprasad]

Hi Friends,

Debit card is easy to obtain from the banks, banks will issue a debit card to draw cash from ATMs. You must have money in your account to draw money from ATM. But Credit card is issued upon submitting application for it, bank authorities check your account details if they find you are eligible for Credit card then only they will issue that they will offer a limit to draw cash or for shopping. The bank authorities see your credibility and issue the Credit card.

[lightning18]

A credit card is just like borrowing money plus it has interest and sometimes if you forget to pay it then the higher the interest will be. The debit card is like a savings account and you put your own money on it then use it just like the credit card.

[mcliffi]

With a credit card,you can buy anything with but you have to pay later.
A debit card,first you must deposit money into it before using it.An atm is a debit card.

[Allius]

It's really easy to see the difference: a debit card you have money in the bank and when you make payments or withdrawals will be removed money from your account (money that is already yours). A credit card you do not have your money there, when you make payments or withdrawals the bank is lending you money then you have to repay with interest ...

[Aian]

Debit Card: A debit card is connected to your bank. If you have money on your bank then you'll have money on your debit card. It's almost like you have your bank's money in the form of a card. You'll naturally get a debit card if you open a bank account within 1-2 weeks.

Credit Card: This is kinda like a loan. You have to specially apply to get a credit card. The procedure requires a bit more detail and security than opening a bank account. A credit card doesn't have your money in it. It has the bank's/company's money. That's why it's called a credit (Money you owe.)
The idea is that if you get approved for a credit card, they'll give you a card with money loaded in it.
How much money depends on your credit score and what the credit card provider has to offer. Likely $1000-$5000.
It could also be as low as $500 to as high as $250,000 depending on what company you get the card from.
You spend money from your credit card as normal (While staying within the given credit limit.Leave at least 30% of the money in the card).
At the end of the month you'll get a bill from the credit card company to pay back the credit amount you used with a little interest. You don't have to pay up the full amount you spent. There is a minimum amount you have to pay to keep using the card. Pay that minimum and you're fine as long as you eventually pay back the rest later with the minimum amount every month. When you pay your credit card bills your credit card will be loaded back with the money paid.

Sorry for making it long but I hope I made it simple to understand.

[mcliffi]

I have a debit card and i normaly use it when necessary.The credit card i used last was to purchase a television.

[castbound]

The way my economics teacher put it is that a debit card is your money, but a credit card is not. A credit card is money loaned that you have to pay back.

Best explanation.I was looking for an explanation like this one.Thanks Masterminor.I knew what a Credit Card is but didn't know what a Debit Card is and you explained it well.

[helpinghand]

Credit card is just like a short term loan for you. If you do not repay on time you will have to bear high interests. Whereas in debit cards there is no loan, it is your own money in your bank account. If there is no money in your bank account, you cannot buy. The only benefit of debit card is that you do not have to carry money and it is comfortable to use.

[martinmilcev]

As other users explained, credit card is like loan, I always prefer debit card, I know some people that spend a lot on credit cards and then when they get paid for some job they automatically lose their money, that's why I don't like credit cards.

[TotallyNerdDude]

I don't know the difference between credit card and debit card. Does anyone know that. If you does, please help me out to get a clear idea.

credit card had this certain amount of money which was allocated to you and for you to be spent without losing money from your own pocket. Banks provide that for you and you will pay for it quarter by quarter while Debit card is the one you actually put money into. When you deposit money to your card, you can automatically use it in time when you run out cash. You use your debit card as a cash alternative but you were the one who put money into it.