We are discussing here Difference Between Debit Card and Credit Card. Banks use Debit Card and Credit Card . Customer needs for its difference . These are both cards . Banks Provide facility for cards . Debit Cards and credit cards are two difference to operate . Most Customer are unable to know its difference. But we are discussing its difference below.
What is Debit Card?
Debit card is ATM card . It is used to withdraw money from machine from your own accounts. Every customer has its own unique accounts in banks . Bank issue the card to their customers for operation of accounts . There is rush in bank due to flow of customers . Due to Debit Card ,customer can complete its transaction with help of ATM machine . He can withdraw amount ,can transfer amount , can transfer amount to his own account of same bank , can transfer funds to other banks of his account or others account from his account . The main them is to understand here is that amount is withdrawn from his account balance.
What is Credit Card ?
Credit Card is also card like ATM card but the customer can make transaction in sense of just a loan . he can withdraw money upto availed limit. He can do shopping with the help of card . He can do foreign shopping with the help of Credit Card . The main them is to understand is that the amount will be provided by bank as a loan . there will be charge of mark up . you have to repay with in time
Difference Between Debit Card and Credit Card
There is difference is that in credit card funds provided by Banks and in debit card card customer uses its account balances . He has to remain in limit of his account balance in debit card while in credit card he has bno balance bank provides him loan for making his transactions.