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What is meant by debit card?

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Anonymous

7y ago
Updated: 8/21/2019

A debit card - is a form of electronic cash. A credit card - is essentially a loan. The main difference between the two is - Debit card transactions are instant, and the value of the transaction is taken from the account immediately. Credit card transactions don't become due on the account until the next statement is prepared - and even then, you don't have to pay the balance in full.

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Wiki User

7y ago

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