what is different between credit card and debit card and prepaid credit card ?
By ganeshidjl
@ganeshidjl (132)
India
November 19, 2010 6:06am CST
friends tell me i no credit card and debit card. please tell me prepaid credit card that offers you best on i don't the differences between the three i use credit card and debit card want to use prepaid card for new things i don't no the difference but i use it for online purchase also.
2 responses
@venkataraman_vc (5293)
• Chennai, India
19 Nov 10
Some banks have the prepaid debit card. (Or prepaid shopping card.) A card with a pre-loaded amount. The denokinations available may vary like Rs.1000 Rs.3000 or Rs.5000. (The card can be used upto that limit only. After exhausting the amount, the card becomes invalid.)
I have purchased the Prepaid Debit card from HDFC bank for Rs.5000. The drawback was, we can't withdraw cash from ATM. We can use it only for purchasing. (What happened is, there was a balance of Rs.24, which I could not make use of, because nobody accepted a card for an amount of Rs.24)
The card, after purchase from bank, will be activated within 24 hours.
@ReViewMeMedia (3785)
• United States
19 Nov 10
Credit card means that you buy it now, pay it off later. Debit card means you pay it off now and it comes straight out of your bank account. Prepaid means there is set amount that you are allowed to spend on the card already.
