Debit/Check Card VS. Credit Card
By FunkyMonk
@FunkyMonk (49)
United States
5 responses
@Kylalynn (1771)
• South Africa
6 Dec 06
The difference between debit & credit card, is. If you pay for your purchases with a check/debit card, the amount is taken from your account straight away. If you have no funds in the bank, the transaction will be declined. A credit card allows you a specified amount of money to spend even though you don't have that money in the bank. It is almost like a loan. You make your purchases with this. At the end of the month you will received a statement, saying what you owe them. You can either pay the minimum balance or the full amount. The interest rates are usually quite high, so check that first! A nice advantage of a credit card is you do not have to keep a lot of cash on you. Hope this helps.
@Kylalynn (1771)
• South Africa
6 Dec 06
The difference between debit & credit card, is. If you pay for your purchases with a check/debit card, the amount is taken from your account straight away. If you have no funds in the bank, the transaction will be declined. A credit card allows you a specified amount of money to spend even though you don't have that money in the bank. It is almost like a loan. You make your purchases with this. At the end of the month you will received a statement, saying what you owe them. You can either pay the minimum balance or the full amount. The interest rates are usually quite high, so check that first! A nice advantage of a credit card is you do not have to keep a lot of cash on you. Hope this helps.
@joewoods7 (18)
•
6 Dec 06
when u use a debit card, the money just comes straight out of ure bank and pays whoever it is ure buying from.
when u use a credit card, u have to pay the money back at the end of the month, usually with an extra charge to go with it, like 16%
