Difference between debit card and credit card

Question

Accepted Answer

Debit cards allow spending from available funds in a bank account, while credit cards allow borrowing money up to a certain limit.

Debit cards are linked to a bank account and use the available funds for transactions.
Credit cards allow users to borrow money from the card issuer up to a predetermined credit limit.
Debit card transactions are immediately deducted from the linked bank account.
Credit card transactions create a debt that needs to be repaid later, usually with interest.
Debit cards are primarily used for cash withdrawals and purchases within the available balance.
Credit cards offer rewards, cashback, and other benefits based on usage and repayment behavior.
Debit cards do not require a credit check or credit history.
Credit cards often require a credit check and approval based on the applicant's creditworthiness.
Examples of debit cards include Visa Debit, Mastercard Debit, and Maestro.
Examples of credit cards include Visa, Mastercard, American Express, and Discover.

Accepted Answer

A credit card is a type of credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit.

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