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What's the exact difference between credit card and debit card?
#1
Hello, everyone! I just want to know how credit card and debit card differ exactly from each other in terms of uses? And which one is the best to use?
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#2
First those two cards are way too different. Debit card is a card connected to your account, the money in that card is your money. Credit card on the other hand is a card use to borrow a money to purchased anything within your credit limit and pay for it later.
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#3
Credit cards give you a credit to pay things, and the debit card never going to give you credits they just work with your savings. Also, the credit card has to be paid monthly and the debit cards have to be paid at the moment with the savings available in your account. The best choice to use depends on your needs and your economic incomes because if you have not had an established work with a monthly salary you should start with a debit card. So it depends on your situation.
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#4
(01-10-2018, 02:05 PM)Paco Wrote: Credit cards give you a credit to pay things, and the debit card never going to give you credits they just work with your savings. Also, the credit card has to be paid monthly and the debit cards have to be paid at the moment with the savings available in your account. The best choice to use depends on your needs and your economic incomes because if you have not had an established work with a monthly salary you should start with a debit card. So it depends on your situation.

You've got a point in your explanation. The thing with debit card is that one is not going to make any spending as long as there are no money on the person's saving accounts which means that one got to save up funds. 

For me, I would want to go with the credit card since it is going to give me the chance to spend as long as I want with the hope of paying off at the end of every month since I'm active at work. The thing with credit card is that it gives me the chance to make frugal spending as well. 
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#5
So a credit card lets you quickly borrow money for small loans. It's designed to give you financial flexibility. Debit cards are merely a way to pay for things directly out of your bank account.
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#6
These two cards are different with each other. Credit card serves as a borrowing instrument. You can use this card to borrow money and should be payed within a period. If not payed within the given time, your card may be penalized with interests. It has also the credit card limit. Basically you need to be a good cardholder because credit card has the capability to void your account if you have unsettled payments or overdue which can further impact your credit score.

However, Debit card is associated with your account. Good thing with this card is it has no penalty and does not have transaction limit. This is basically your money. You can use it everytime. There are also no credit scores nor repayment method. As long as you have your money in your account, you won't have any problem.

See? Those are the reasons why some of the people prefer debit over credit because of the convenience. Though Credit card has also reward points, but you must be careful every time you are about to purchase something as this will affect your standing with credit card. Be sure that you are paying the amount before deadlines and must not leave a certain time without paying. Hope this helps!
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#7
A debit card takes money directly from your checking account. Depending on your bank, you may incur fees for using it, but essentially it’s just like writing a check. Using a credit card is basically borrowing money that you have to pay back (plus interest).
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#8
A debit card uses money from your account, a credit card is essentially a card that lets you borrow money from your bank.

So let's say you have a debit card with 50 dollars in it, and you wanna buy either a 45 dollar headset or a 100 dollar headset. With debit card, you can only buy the 45 dollar headset because you only have 50 dollars in your account, but with a credit card you could order it and pay back your bank with interest later on.
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#9
on my own understanding debit card contains your savings or your personal money , it is a card which asks for your authorization whenever you are withdrawing money from it or when you use it to pay some goods online, on the other hand credit cards are used to buy goods and equipment without the needs of money at that moment, but when the time comes that you need to pay for it, money will be necessary,
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#10
The debit card is actually a card that uses your own money, the one you currently own or yours, whether you spend a lot no debts would be added because it's your own money. On the other hand, the credit is somewhat the opposite of it, like you pay with your credit to buy goods and lots of stuffs and in the end of the day, all the money that you've used or spent, you need to pay it back.
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