Difference Between?

Question

What is the difference between Debt Card and Credit Card in the UK

Thanks

AJ

Answer 1

Debit card is used for taking money out of your account. A Credit card is used for spending borrowed money.

Answer 2

I agree with Delgado, except a debit card only lets you spend what you currently have in your account.

Answer 3

Credit card allows you to spend money you dont have in your account and pay back in monthly or so installments. A debit card only allows you to spend until you've reached your overdraft limit x

Answer 4

Debit card is when you have money in the bank to cover what you buy

Credit card is like Visa you can pay it off monthly or in full.

Answer 5

A debit card in the UK is the same as in the US. It takes money you have, out of the bank account It is in.  I am guessing you know how a credit card works - the UK is the same as the US on these as well.

Answer 6

hi AJ

         Debit card : this is given to bank account holders when they initially open their account manily to test their ability to balance their finances,the debit card allows customers only to spend money they actually have unless a pre-arranged overdraft has been alocated,most credit cards also double up as a debit card

        Credit card : these are cards that allow the customer to buy goods using "credit",or in laymans terms money thats not offically theirs,the money they spend is in theory loaned to them,however money spent using credit cards can have high interest rates,making the high street banks millions in profits

        also late payment of re-payments of credit can also incure extra charges,allways try to pay back the minimum amount every month so to avoid these over the top charges

         finally over the last few years a new type of credit card has appeared,the "pay as you go" credit card is basically a credit card,and has all the features of a mastercard or visa,but you can only spend what you have ,you cannot go into debt,and this allows people who were once stopped from having credit cards to enjoy the benefits of online shopping ect

         you can find out more about pay as you go credit cards at http://www.thesunprepaid.co.uk/

          any problems let me know

                  good luck aj !

Answer 7

Just that- Buy on Credit, you will have to pay it back in the future. Buy on Debit, the money will come straight out of your account.