On a checking card (credit/debit)?

Question

if i run my card as a credit....they take the money out of my account at a later date right? meaning, they wont send me a seperate bill?like.....i know debit comes out immediately, but does the credit come out of the SAME checking account at a later date?

Answer 1

My response is assuming you are referring to your VISA Debit Card that you recieved when you opened your checking account....

It doesn't matter whether you use your card as a debit or credit both transaction amounts will be deducted from your checking account.  Several factors come into play regarding when the money is actually deducted from your checking account.  Typically debits are deducted emmediately.  When you use your VISA Debit Card as a credit card the merchant obtains an authorization through the VISA system guaranteeing payment prior to you signing the sale slip.  What happens to your checking account at that point is a hold is place on your money in the amount of the transaction to ensure the money is available when the merchant transmits their credit card transaction to their credit card service provider  Not all companies transmit the information daily because of cost, so the time frame is not predictable.

The bottom line is both transactions come out of checking account.  The debit emmediately and if you use the card as a credit a hold is place on the money until the corresponding transaction clears and the hold drops off.

I always stress the importance to all my clients to use a checkbook register and write all of their transaction down and if they are not able to balance their statement when it arrives go to the bank and ask for help.  

It's best not to use the card unless you have money in your account to cover the purchase because if the transactions arrives to the  bank  before you make a deposit you could be charge a Non-Sufficnet funds fee.

Answer 2

A debit card will take the money out of your account right away.  A credit card will not take money out of any account(unless it is set up for auto pay).  They will send you a bill every month and you will have to pay it.  A debit card works similar to a credit card but they are 2 differant wats of buying stuff.

Answer 3

I have the same type of card through my bank. Whether you use it as a debit or charge, the amount is deducted immediately. There is no waiting time on charges or debit, it is all the same.