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A credit card - is a temporary 'loan' from the card company with a 'promise' to pay back the amount spent over a period of time. The card company pays the retailer immediately, and the card-user is billed at the end of the month, with interest charged on the outstanding balance.
A debit card - is a form of electronic 'cash'. The transaction can ONLY be completed if there are already sufficient funds in the bank account that the card is linked to. The amount 'spent' on the card is usually transferred from the users's account the same (or next) working day.
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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
What is the meaning of credit and debit?
Debit and credit are accounting terms for different columns. A "debit card" is different from a "credit card" in that when used, the former takes money directly from your bank account. Simply i can say debit what comes in,credit what goes out. i prefer virtual credit cards.
What is the statue of limitation in Ohio for credit card debit?
what is the statue of limitation in Illinois for credit debit/
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.
How does a credit card differ from a debit card?
When you use credit card for purchasing goods and services, the credit card issuer pays for it first and you pay the credit card company. On the other hand, when you purchase using a debit card, your purchases are charged to your bank account.
Can you receive a credit on a debit card?
No. If the money in your bank account runs out your debit card will not work.
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.
Is Mastercard a debit card?
no, it is a credit card. a mastercard can be either a debit or a credit card
What is a debit card and how does it work?
Debit card works like a credit card, the only difference is that when you make a purchase, the transaction is charged to your deposit with the bank who issued your debit card.
Is a refund to a credit card a debit or credit?
Debit
Do you need a credit card to buy something from amazoncom?
Yes you need either a credit card or an amazon gift card, debit does not work.
Can you use a debit card on Wizard101?
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.
Does debit card build credit?
A debit card is a card that takes money straight out of the bank, however, a credit card lets you borrow money, but you must pay interest. So, a debit card does not build credit.
Can a chase debit card also be used as a credit card?
Yes, but the funds are still withdrawn from the account that the debit card it linked to ... in other words using the debit card as a credit card is still a point of sale transaction. You cannot be extended "credit" on a debit card.
Is credit card and debit card considered as a cash?
No, credit cards are loans and debit cards are checks.
Can you use green dot cards at Redbox?
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.
Is a secured credit card a real credit card or a debit card?
A "credit" card is a credit card.A prepaid credit card (secured) is not tied to a bank account and therefore while, like a debit card, you can only spend to the amount it has been loaded with (it will not provide credit), it is not a true debit card which IS linked into a bank account.
