what is debit card and creadit card
Answers
A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase. ... In addition, debit cards, also called “check cards,” offer the convenience of credit cards and many of the same consumer protections when issued by major payment processors such as Visa or Mastercard.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges.
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⇒Debit cards allow bank customers to spend money by drawing on funds they have deposited at the bank.
⇒Credit cards allow consumers to borrow money from the card issuer up to a certain limit in order to purchase items or withdraw cash.
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