What Is The Difference Between A Debit Card And A Credit Card?
Let’s take an example assume that two customers bought a bicycle at the rate of $150. one of the customers pay his bill by debit card and after paying the amount to the store the money was deducted from his savings account. The bank will deduct $150 from the customer’s account and he is not able to use this amount again because the bank will send this money to the retailer within three days.
A credit card was given you 20 to 50 days to repay your outstanding bill by the due date. the 20 to 50 days were count by the date you purchased. It depends on you to that which date you spend the amount. if you are not able to repay your amount by the due date then you have to pay the interest on your outstanding bill. And the interest rate of a bank is very high because this is the only way of banks earning. So also make sure that pay your bill before the due date. pay your whole amount at the end of the month so that you can save your money.
What is the difference between a debit card and a credit card?
Credit Card VS Debit Card
In a research, people found that they need a credit card to make payment, online stores or retails stores as well. or to rent something. they also feel like that it easy to carry a credit card rather than carry cash or checkbook to make payments. in credit card you are borrowing money from other banks and you have to pay them in a certain time. the debit card also provides you same to make payments. it difficult to determine which is better or when your credit card or debit card because both gives same.
Select The Right Card For The Situation
If you are using the debit card for payment then you are doing the right thing, because through debit card you are safe from credit card interest rate or due date. If you pay cash for the items you purchase that’s the best thing you are doing. through debit card, you will not be trapped in credit cards interest. You will find many hotels and loughs were not accept debit card over credit card they will prefer credit card over the debit card, why because they want a card where they can bill you for your damages. Always make sure, with the hotel and lough that they will accept debit card over a credit card.