can anyone tell me what is the diffrence between credit cards and debit cards?

India
November 2, 2007 10:24am CST
i have this question unanswered for a long time.i kindly ask my friends to throw some light on this.
1 person likes this
4 responses
@milott (2646)
• India
2 Nov 07
In simple words, credit card is a card where when you use it by purchase, you can pay it later even if you don't have money in that card. While debit card is a card which is attached to your bank account where when you use it your money will deducted directly from your bank account of the amount you purchased.
@tatzkie (644)
• Philippines
2 Nov 07
credit card when used, you will pay after a month or depending on your terms... it is a debt. while debit card, when used, your money in the bank will automatically be deducted.
@AmbiePam (93883)
• United States
2 Nov 07
When someones uses a debit card the money comes straight from their bank account. It's like a check without the hassle of writing out a check. And it is immediate, whereas a check could take a day to post. A credit card is when you charge something to your credit card, and you begin to have a balance. At the end of the month, the credit card company sends you a bill for all the charges you made that month. If you pay it off in full, then you have no balance on your credit card until you use it again. If you only pay a little of the amount, the interest on your credit card will grow, and you'll owe the company more money because the interest grows with how much money you have left on the balance of your credit card. And credit card companies love it when someone only pays a small amount of their credit card bill. They get to earn money off the interest on your own card. Hope this helps.
• Ireland
2 Nov 07
Debit Card A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Physically the card is an ISO 7810 card like a credit card; however, its functionality is more similar to writing a check as the funds are withdrawn directly from either the cardholder's bank account (often referred to as a check card), or from the remaining balance on a gift card. Depending on the store or merchant, the customer may swipe or insert their card into the terminal, or they may hand it to the merchant who will do so. The transaction is authorized and processed and the customer verifies the transaction either by entering a PIN or, occasionally, by signing a sales receipt. In some countries the debit card is multipurpose, acting as the ATM card for withdrawing cash and as a check guarantee card. Merchants can also offer "cashback"/"cashout" facilities to customers, where a customer can withdraw cash along with their purchase. The use of debit cards has become wide-spread in many countries and has overtaken the check, and in some instances cash transactions by volume. Like credit cards, debit cards are used widely for telephone and Internet purchases. This [citation needed] may cause inconvenient delays at peak shopping times (e.g. the last shopping day before Christmas), caused when the volume of transactions overloads the bank networks. Credit Card A credit card is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user). It is also different from a charge card (though this name is sometimes used by the public to describe credit cards), which requires the balance to be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged. Most credit cards are the same shape and size, as specified by the ISO 7810 standard.