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What is the difference between a credit and debit card?

Asked by yadav about 1 year ago, 1 answer.

What is the difference between credit card and debit card?

Answered by editor on Nov 27, 2007, 10:27PM
8962 answers

Hi,

A credit card uses money you don't actually have in an account. You have an available credit line, which is a certain amount you can spend. Then every month, you have to pay your bill of the money you spent.

A debit card, however, uses money you have in an existing checking account. It's like the credit card form of a check. You can't use money you don't have in that account, and if you do, you get charged fees.

I hope this makes sense.

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