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Rank: Advanced Member
Joined: 1/16/2011
Posts: 272
Points: 809
Location: United Arab Emirates
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will you be kind enough to explain me the difference between credit card and debit card.
Thanks.
A friend in need is a friend indeed.
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Rank: Advanced Member
Joined: 4/3/2009
Posts: 2,928
Points: 8,677
Location: Michigan, United States
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Credit card..you charge the amount. Debit card...you take from your bank's account. The credit card will send you a bill with all your purchases.
I am carrying my heart~I am carrying my rhythm~I am carrying my prayers~But you can't kill my spirit~It's soaring and strong (Paula Cole's Me Lyrics)***We are not human beings having a spiritual experience. We ARE spirtual beings having a human experience.(T.deChardin)***There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle. (Albert Einstein)
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Rank: Advanced Member
Joined: 7/8/2010
Posts: 4,264
Points: 12,760
Location: iceland
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or, - debit card you are paying with your own money. credit card you are borrowing the money from the credit card company, and if you do not pay it back immediately you pay massive interest rates.
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Rank: Advanced Member
Joined: 9/3/2010
Posts: 428
Points: 1,256
Location: United States
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A debit card is also called a check card because using it on a purchase is like writing a check from your personal checking account while a credit card is used to buy on borrowed money up to s certain point which must be paid at a later date.
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Rank: Advanced Member
Joined: 7/30/2010
Posts: 252
Points: 609
Location: India
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with credit cards you make purchases and the Bank or the company pays,and you have to pay them back with interest within the stipulated time limit.
with Debit card you pay for the purchases from your account(only if you have money}
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Rank: Member
Joined: 6/23/2011
Posts: 710
Points: 2,110
Location: somewhere out there
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credit card - usually got a credit limit
debit card - money taken from your savings account
You can do anything, but not everything. —David Allen
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Rank: Advanced Member
Joined: 12/29/2009
Posts: 4,001
Points: 12,249
Location: India
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Debit card: you purchase once and pay once.
Credit card: you purchase once and pay for your lifetime. :(
We are responsible for what we are, and whatever we wish ourselves to be, we have the power to make ourselves. ~ Swami Vivekanand
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Rank: Advanced Member
Joined: 1/10/2011
Posts: 376
Points: 1,127
Location: India
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I often use my debit card to pay off my credit card bill! So Debit card is the father of Credit card! 
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Rank: Advanced Member
Joined: 2/13/2010
Posts: 3,098
Points: 9,315
Location: United States
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If you can avoid the pitfalls of credit (abuse, overspending, impulse buys), then a credit card is the way to go.
Why?
Much better protections against identity theft than with the debit card. Your liability is limited with a credit card.
"Be without fear in the face of your enemies. Be brave and upright that God may love thee. Speak the truth always, even if it leads to your death. Safeguard the helpless, and do no wrong". (Knight's Oath, Kingdom of Heaven)
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Rank: Advanced Member
Joined: 1/16/2011
Posts: 272
Points: 809
Location: United Arab Emirates
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Thank you all for your kind information on the topic requested.
A friend in need is a friend indeed.
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Rank: Member
Joined: 4/17/2011
Posts: 42
Points: 126
Location: San Francisco, CA
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Also, it is suggested that you do not use a debit card to buy things online as the card number, in the wrong hands, gives access to your own money, whereas a credit card does not.
You can also get a "gift card" which is like a debit card, in that it represents money in the bank associated with the number on the card. It looks just like a credit or debit card, but the amount you can spend with it is limited by how much money was spent purchasing it. Unlike a debit card, you cannot add money to the account associated with it; when it's gone, tis gone.
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Rank: Newbie
Joined: 2/23/2012
Posts: 7
Points: 21
Location: uk
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I often use my debit card to pay off my credit card bill! So Debit card is the father of Credit card! Anxious
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Rank: Advanced Member
Joined: 3/22/2009
Posts: 2,370
Points: 7,185
Location: New Hampshire, United States
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There is another aspect to this issue that I suspect, as far as I've been able to determine, use of a debit card in no way effects your credit score, if used responsibly over a period of time, it may help your credit credibility with the issuing bank, but that is as far as it goes. If you are looking to build a solid credit score in the national databases though, then you may want to consider a credit card, and be extremely disciplined, spend only what you can afford to pay off completely every time you get a bill.
Question authority, before it questions you. How do you know, that you know, what you know?
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Rank: Newbie
Joined: 3/20/2012
Posts: 3
Points: 9
Location: United States of America
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A debit card takes money from our bank account, whereas a credit card borrows money from a banking or credit company.
Debit spends your money; credit spends somebody else's, which you must then pay back.
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