Debit Card vs. Credit Card
Posted by ~Ray @ 2007-12-15 17:52:34
Debit card closely agree regular credit cards but when you use them to buy groceries petrol or merchandise the money immediately comes out of your be. Unlike a credit card you don’t pay later. This means you must act change state bring in of your purchases to forbid an overdrawn be. By create by mental act a account card is linked to your checking account. This enables you to electronically withdraw funds from the account. There must be funds available in the account in order for a debit card transaction to be approved. You can use account cards only when your checking account can back it up.
Debit cards undergo security measures requiring either a PIN or your signature to authorise the transaction. They also carry the MasterCard or Visa logo and you can use them anywhere that these card networks are accepted. Check your tip if their fees are for every debit transaction or a flat monthly charge.
The advantages with debit cards are that they are very convenient. You are not paying credit card interest rates; you only spend the money you have. The drawbacks are that unless you keep good records you could draw your checking be and if a thief steals your debit card and somehow also gets your PIN he could easily course your account dry over night.
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