What is the difference between credit versus debit?

When you purchase with your DEBIT CARD, cashiers always ask if you prefer "credit" or "debit". So, what exactly is the difference between them? Does choosing either of them result in a transaction fee? Which one do you normally choose, and why?|||The transaction fees depend on your bank. Each one is different.


For "credit," you have to sign the receipt. For "debit" you enter your four digit passcode.


You should choose the one that does not cost you a transaction fee at your bank.


Otherwise it does not make a difference. I sometimes prefer doing "debit" because then you can ask for cash back which does not work for "credit."|||~~There is no difference to you. I like using the debit option. The money comes out immediately from my account, where the credit option may take a day or two to show up. A credit options also costs the merchant extra fees as they have to pay a percentage of the sale to their merchant services. The main advantage for credit/debit card is you can use it when they do not offer debit card options (i.e., restaurants, online purchases, etc.).|||...