Debit Card vs Credit Card

 

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Debit Card vs Credit Card

You're welcome to this tutorial. In this lesson, we're going to teach the difference between debit card and credit card.

A lot of people are confused on what is credit card and what is debit card. We'll first open your eyes on credit card.

CREDIT CARD

first thing you must note about credit card is that isn't available in every country and that's why a lot of people don't know their differences.

Let's move on. Credit card is normal as your ATM withdrawal card which you can use to withdrawal money and spend but in it's back end means owing. So is a withdrawal card given you to owe and in it's programming is connected to your bank account. This system is mostly used by salary earners.

ADVANTAGE

It helps you to maintain your living even while that's no money in your bank account. 

DISADVANTAGES

• You're in debt and being connected to your bank account means automatic withdrawal to pay back when ever money enters your bank account (unless if you're optionally allowed to set it by your financial institute or government.)

• Credit card has limitation that you can be allowed to use.

DEBIT CARD

Debit card is an option to use your money without owing anybody, government or financial institutes. You only use the money in your bank account. This option is what is available in many countries.

ADVANTAGE

• Is good because you're not owing anybody which gives you peace of mind and rest.

• It encourages you to get more money, having known that when you exhaust the money in your bank account, you're cashless.

DISADVANTAGES

You're left with the option of no money to move some things on when you're exhausted financially.

CONCLUSION

Note that the both cards can be used for online transactions, unless if not enabled or eligible in your bank.

The differences have been made clear, we believe you're clear in understanding of Credit Card and Debit Card. If the both are available in your country, the choice is yours.