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Can you get debt with a debit card?

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Answered 2009-10-14 15:29:08

Yes you can. It would be limited because when you use your debit card it checks for your balance in the checking account. If you you have it linked to your saving or to a credit card than it will reduce your savings account first and then charge the credit card.

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yes. just tell the redbox its a credit card, then just swipe your debit card.An Opposing Answer:A credit card is not the same as a debit card, and vice versa. If you process a debit card as a credit card when that debit card is not encoded as an alternative credit card, the transaction will fail.

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a debt card is not considered a negotiable instrument. See Article 4A of the U.C.C.

If you mean a DEBIT card, you have to set up a bank account and have money on deposit to cover whatever charges you use the card for.

A debit card, because cash can be stolen. If your card is stolen then you can cancle the card and get your money back.

A debit card removes money from your account the moment you use it. A credit card is a promise by you to pay the bill when it comes in the mail. Simply put: Debit Card - pay now. Credit card - pay later.

No Debit card takes money straight away from bank account. Credit card makes a debt on card company, not your bank - then later the bank (or person) pays card company, plus interest sometimes.

Simply contact the credit card company - and ask for a payment to be taken from your debit card. They'll ask for the card number, expiry date and ccv. The payment will be taken from the account associated with your debit card almost immediately.

No. It is a noun or verb. A "debit" is a deduction from a liabilities balance, related to the noun "debt." In accounting it is an increase in assets and a decrease in liabilities, the opposite of a credit (given). Used as a verb it means to list or incur a debt. It is used as a noun adjunct, e.g. debit card, debit entry.

Debt is when you owe money. When you withdraw money, you are taking from money you already have. The reason for this question is that some confuse the word "debt" (money owed) with "debit" (withdrawing money). You use a debit card because there is money to withdraw, but if you are in debt on that account, the card would not work. One single letter makes a lot of difference.

The answer depends on the issuer of the debit card. Most payday lenders will NOT allow the use of a debit card as the primary source of funds - they usually want a checking/savings account, specifically the one into which your paycheck is deposited. Some payday lenders will allow you to use a debt card ONLY if the debit card was issued by them (I am only aware of SpeedyCa$h and AccountNow providing the service).

The Pros of having a Debit card is you don't have to write a check and also won't let you go in debt. The Cons of having a Debit card is it makes it too easy to spend money at least until your account is empty.

As long as your debit card has a major credit card logo, like Visa or Mastercard, it will work to purchase a subscription to Wizard101.

A prepaid debt card is purchased at a store with specific amount of money on the card. It is used just like a normal debit card. However, if you try to purchase and item and you do not have enough funds on the card, the transaction will be declined. Unlike a regular debit card, which can be linked a savings account to draw out funds to protect an account from over-drafting, there is no account to link to.

Credit card debt doesn't go away easily or fast. It takes much effort and a lot of patience. Patience is the most important. You cannot spend any un-necessary purchases on credit or debit. Things like electronics or appliances should be avoided until debt is little or none at all.

where is the roll no on a debit card

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.

no, it is a credit card. a mastercard can be either a debit or a credit card

A common function of the debit card is as an ATM card.

Yes, Texas allows garnishment of wages for credit card debit

Debit cards were introduced in 1977-1978. Master Charge, now called Master Card had a debit card called Signet. Visa's debit card was called Entree.

The last four numbers on your card