What would you like to do?

Why do bank use the term credit instead of debit?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Banks use Credit because Debit makes it sound like a debt, while credit sounds like YOU get something. If it sounds like a debt, you spend less and the bank loses money.

With a credit card, the company is advancing you money on your promise to pay, a debit card means you already have the money in your account.
27 people found this useful
Thanks for the feedback!

Why would someone use a bank instead of a credit union?

  Answer 1   Some of the reasons a person would use a bank instead of a credit union include:     1. There is no credit union within a reasonable distance, ma

Can i create a PayPal account using a visa debit card instead of credit card?

Yes, you can - you can even use a direct bank account and routing number. However, be sure to read PayPal's policies and recommendations. PayPal will directly deposit AND with

Why do banks use credits for increase and debits for decrease?

  Let's view this from the Bank's point when it comes to CASH! For example, you deposit Cash in to your account, the bank credits your account (which is opposite of what a

Can a debit card be used as credit?

In the 1990's, USbank issued me a single plastic card that could be  used as credit or debit as a choice at the time of use. It may have  been called a "flexcard." (They hav
In Banking

What is credit and debit in banking sector?

In banking parlance, Credit refers to a transaction where funds came into the account under question and Debit refers to a transaction where funds were taken out from the acco