Credit Cards

Debit Cards, Atm Cards and Pre-Paid Credit Cards

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

A credit card allows the users to borrow money from the card issuer in exchange for paying in full in exchange for paying in full for the good or service. the good or service. The card user must pay off the balance of the purchase in full plus any interest or fees charged during the statement balance period. A debit card deducts money immediately from the account, and therefore incurs no interest payments. The bank then sends the card holder a statement showing all transactions cleared for the month on the debit card.

ATM cards are different from debit cards in that the former shows up on your statement as a direct withdrawal from your account, while purchases with the latter will show up in a separate statement.


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