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Answered 2011-07-07 23:39:44

A credit card is when you are loaned money by the card company and are able to use it before hand; after which you have to pay them back.

A debit card on the other hand is a card with your money on it and you use it as you wish but once the card has no money left, you have to put more money on it before you can use it again.

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What is the difference between debit cards and ATM cards?

difference between debit cards and ATM cards Debit cards, there are points of sale or ATM cards, there are no points of sale

Difference between debit and credit card?

debit cards take the money directly out of your bank account. credit cards put all of your charges together and have you pay it down at the end of the month.

What is debit accounts and credit accounts and difference between them?

Debit cards are check cards that withdraw money from your savings account. When using credit cards, you are borrowing money that you will pay back when the bill is sent to you, but also includes interest.

What is the difference between credit and debit cards?

Credit and debit cards may look the same, but they are very different. Credit cards offer a line of credit which must be repaid either in a lump sum or in monthly installments. Debit cards pay directly and in full from one's bank account in the same manner as if a check had been written upon the account.

What is a debit card used for?

A debit card is similar to a credit card, as they typically will contain a Visa, Mastercard or American Express logo. There are two typical types of non-credit cards: gifts cards (which do not have your name on the card) or debit cards (with your name). Debit cards are issued by a bank and generally have conditions for use and monthly maintenance fees. Debit cards can be used in many of the same ways a credit card can: in-person purchases, online purchases, ATM withdrawal (check your card). The difference between a credit and debit card is that debit cards traditionally do not affect your credit rating, whereas credit cards do.

Does newegg accept debit?

As long as you can use your debit card at stores just like credit cards are used, your debit card will work. Newegg won't know the difference between your debit card and a credit card.

Difference between debit and credit in accounting?

A debit is money paid out or a loss, a credit in income or a gain.

Are credit and debit cards identified as credit or debit cards?

Based on the cards I have, if it is a debit card the word Debit appears on the front above the Visa, Mastercard or American Express logo. Credit cards typically only contain the logo.

Is credit card and debit card considered as a cash?

No, credit cards are loans and debit cards are checks.

What is the difference between a credit memorandum and a debit memorandum?

A Debit Memo is a over payment A Credit Memo is a over payment

What is the adverb for credit?

Credit and Debit cards, Credit.

How can you identify credit card from dedit card?

Credit cards say "credit" And debit cards say "debit". Hope this helps!

What is the primary difference between a credit card and a debit card?

credit mean were you take money debit is what you give money

How can i pay my metropcs bill?

Online - Using Debit/Credit Cards At a local MetroPCS Authorized Dealer - Cash, Credit Cards, Debit Cards.

What is the difference between debit balance and credit balance?

This is really not as simple as writing debit balance is or credit balance is:In accounting Debit literally means the left side and credit means the right side. The difference between a debit balance "account" and a credit balance "account" is:Debit balance accounts increase with a debit and decrease with a creditCredit balance accounts increase with a credit and decrease with a debitAssets maintain a debit balanceLiabilities and Owners Equity maintain a credit balanceThe above answer refers to accounting, however, I noticed that you also put this in Credit and Debit cards: using a bank debit or credit card is the opposite of the view you see doing accounting.On a Credit card statement for example, a credit balance would mean that the credit card company is "crediting" you with a certain amount, meaning you do not owe that amount anymore. A debit would be a rise in the balance you "owe them".

What is difference between credit card and debit card?

Debit cards are commonly issued by banks. When you purchase for goods or services, the amount is deducted from your bank account. Credit cards are issued by a bank or other institutions that deals with credit cards. When you make purchases, the issuer of the credit card will pay the merchant in advance. On the other hand, you may pay the credit card issuer in full or in installments with certain interest. If you want to learn more about credit cards, you may search online. Since, credit card is more complicated than debit cards, you should learn more about it.

What is the difference between debit and credit?

Debit - purchase deducted from your bank account Credit - gets put on a bill, and you pay it later

In accounting what is the difference between debit and credit?

A debit is an entry showing money you have payed out. A credit is an entry showing money you have received.

What is the difference between debit card?

debit cards are when instead of credit cards you dont have to pay off what you spent. so say i had 300 pounds in my account, if i used a credit card i could only use 150 pounds at the most because i have to pay back what i spent where as a debit card i could spend the 300 pounds

How are debit cards and credit cards similar?

Debit cards when you use them take the money from your bank account. Credit cards charge the amount and then you are billed for it at a later date with intrest.

How does a Charter One credit card differ from other credit cards?

One difference of the Charter One credit from other credit cards is that the Charter one allows the user to combine their debit and credit card for everyday use to earn reward points. Some other credit cards may also have the same function of earning reward points but not the combination of debit and credit uses. The Charter One is mainly for business use purposes, this may be also be a difference to other credit cards.

How long is a credit or debit card valid?

Debit cards and credit cards are not the same. Debit cards are the one issued by your bank so that you can access your bank account. Most of them do not expire, and are replaced only when the bank makes a change to the account access system (i.e. from magnetic strips to electronic chips) or when you report your card as stolen. For debit cards, most of the cards do not expire. With credit cards, it's another story. Credit cards expire. Wherever you live and whichever credit card company you choose, your card will expire. The only difference between the companies and your location is the life span of your card. With one company it could be 3 years, and with another one 5 years.

What is different between credit meno and debit memo?

The primary difference between credit and debit memo is where it originates. Credit memo is raised by a supplier to a consumer when goods are returned, while debit memo is raised by a consumer towards the supplier.

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