What is a debit card?

Question

What is a debit card, is it useful, dose it get u into debt, and is it good. Becasue im planning on getting one, and i want to know more about it...before i get it...

Answer 1

its a credet card u use to make a perchase and that creates a debet.

Answer 2

It's a card that's linked to your checking account. You can use it in stores just like you would use a credit card, but the money is automatically deducted right out of your checking account.

If you try to make a purchase but don't have enough in your account, the sale may still go through -- but then your bank will charge you whatever penalties and fees they normally charge if you overdraw your checking account.

You can also use the debit card as an ATM card, to withdraw money from your checking account at ATMs.

(This is true for debit cards in the U.S. Other countries may have other rules or restrictions.)

Answer 3

A debit card is simply a card backed by a checking account.  In other words if you have a checking account in a bank and you buy something and present your debit card then<  your CHECKING ACCOUNT IS DEBITED WITH THAT AMOUNT.  Do you understand now?  It simply takes money out of your checking account and does NOTHING for your credit.  If you want to get a credit card go to a bank and ask them how it is done.  Asking questions of the right persons is how one learns anything.  God help the young people !!! Find a book on common sense it will help you greatly.

Answer 4

A debit card is a card linked to your back account and you use it in place of cash. It does not get you into debt, unless you spend more money than is in your bank account. It's usually considered safer than cash because if it gets stolen, you probably wont be liable for the charges as long as you report them in a timely manner.

Answer 5

A debt card LOOKS like a credit card and is used like one at stores.  The difference is that your BANK treats is like a check.  The money is deducted from your checking account as soon as the transaction is processed.  It is POSSIBLE to get into debt using the card.  However, it would be the same as bouncing paper checks.

There are also 'pre-paid debit cards'.  These work something like gift cards.  You 'load' money on the card upfront and can only spend that amount.

Answer 6

It is used like a credit card to take money out of your bank account as if it were a check. You general cannot get into debt with it as you would only use it to spend money that you already have in your bank account.

Answer 7

A DEBIT CARD IS A DIRECT LINK TO YOUR BANK ACCOUNT. IT CSN BE USE TO MAKE PURCHASE OR WITHDRAW MONEY FROM AN ATM.

THE MONEY IOS TAKEN DIRECTLY FROM YOUR ACCOUNT SO THE MONEY ISN'T BORROWED.

TO HAVE A DEBIT CARD YOU NEED TO APPLY FOR A BANK ACCOUNT AND YOUR BANK WILL SEND YOU IT IN THE MAIL.

DEBIT CARDS AON'T OFFER YOU AS MUCH PROTECTION AS CREDIT CARD BUT IF YOU WANT TO STRAY FROM SPENDING MONEY YOU DON'T HAVE I WOULD GO FOR IT.

I RECCOMEND A CHASE BANK ACCOUNT.

WITH DEBIT CARDS THOUGH YOU REALLY NEED TO TRACK YOUR SPENDING AND BE AWARE OF WHERE YOUR MONEY IS GOING BECAUSE THE MONEY IS TAKEN DIRECTLY FROM YOUR CHECKING ACCOUNT.

Answer 8

You deposit money in a bank (let's say $200). They give you a card and you can spend up to $200 on that card. When you reach $200 it stops unless you put in more money.

It's a way to establish credit. After a successful record with a debit card, more financial institutions will consider a credit card, where you pay after you've spent the money, instead of before.

Answer 9

It is a mastercard or visa that can be used anywhere M/C or Visa is accepted.  The only difference is that the money is not from credit, but rather your checking account. Instead of writing a check, you simply use your debit card the way you would have used a typical credit card.

Again, no payments are due since the debit card charges come straight out of your checking account instantly.

Answer 10

its a card issued by the bank that takes money direclty out of your checking or savings account.

Answer 11

Card has a visa or Mastercard logo on it, the money comes right out of you account if you enter your pin #.. If you use the card as a credit instead of debit, it still comes out of checking but can take a day or two to post out of your account.  

Make sure you keep track of the transactions, it is still common for people to overdraw their accounts when they use them.. They forget to write transaction into the check book.

Answer 12

It's a card that is attached to your checking account, it works sort of like a credit card, however it takes the money out of your checking almost automatically instead of sending you a bill. You have to keep track of your balance so you don't over-draft and end up with fees. Ask you bank to explain it in greater detail.

Answer 13

it is like a check book, only more convenient. you put it in an ATM  and press in your pin number than you can take out money from your checking or savings account. you can use it anywhere you use a credit card. You can only spend what you have available in your bank account. unless you are planning on committing fraud and you don't care about your credit score.

Answer 14

a debit card is a credit card from your checking account.  you can't charge on it more than what you have in your account.