Thursday, December 15, 2011

What is the difference between a credit and a visa debit card?

My bank is offering me a visa debit card, but not a credit card. What's the difference?|||A debit card is linked to your checking account (usually). Any purchases are immediately charged to your checking account. The money is deducted immediately - within seconds.



A credit card is linked to your credit card account. Any purchases are posted against your credit card account, payable when you receive your credit card statement. No money is deducted from your checking account until you authorize payment.



If you don't have a credit card account, you can still use it as a credit card. But the transaction will be converted to a debit transaction and paragraph 1 will apply. My banks says I get the same protections as I would if I had a credit card account.



A simple debit card does not allow you to use the credit card function. There's no VISA or other major credit card logo on the card.|||a credit card buys things on credit with money that you dont actually own and you have to pay it back later. a debit card uses your own money that you put in a accout but you dont have to pay it back later|||A debit card comes directly out of your checking account. A credit card is a loan from the bank.

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