What is the difference between Debit and Credit?

When making purchases using plastic they always ask debit or credit. Besides having to use a PIN for debit and the ability to get cash back, why can't they be consolidated as one since the money from both come from the same account?|||Here's the difference:


Debit, the store has complete %26amp; total access (pin #) to your account for the time the withdraw is taking place. Thats why you can also get cash back, while the store has total access, you can request for extra money. This sort of money exchange is instant.





Credit goes through a merchant such as Visa or MC. It is totally secure. The store can only process the amount you give permission for(your signature). The money exchange can take up to 3 days to process. The two cannot be consolidated.


Credit is way more secure %26amp; should be used the most to protect your bank account.|||Credit is where you pay the money later and debit is where the money is taken out at the time of purchase. Ask your bank if they can be consolidated.|||There really is no difference. If you'd rather enter your pin than sign the receipt, then you should use debit. I think merchants may get charged a slightly different percentage for credit rather than debit, but it makes no difference to you as far as I know.|||There is no difference for you, but the charge paid by the store to the bank is different. For debit, it pays a fixed fee (usually around a quarter), and for credit, it pays a percentage (usually around 3%).|||It only makes a difference to the store. The cashier can't tell at a glance which one it is, so if you were using a credit card you wouldn't be able to run it as debit. The store pays a lower fee if you choose debit. It shouldn't make a difference to your bank, though.|||debit takes money from your bank account. you must have enough money in your bank account for the purchase. credit card is based on your creditability, the bank believe you can pay it off later. even if the money eventually comes from the same account, you don't need to have a dime there for your credit card purchase. in your transaction, it doesn't look like any difference except using PIN for debit. the biggest difference between debit and credit is in your credit history. debit has no effect on your credit history, credit does.|||They do not always come from the same account. They might in your case. I have some cards that are linked to bank accounts, but others for which I am billed after I charge something. For some of my cards, only debit or credit works, not both.