What is the difference between ATM card, credit card and debit card?

Question

What is the difference between ATM card, credit card and debit card?

Answer 1

credit cards arn't pre-paid

debt cards you must allready have money

ATM cards you need an ATM macheen and you pay with cash 4 things

Answer 2

Basic Credit Card Types

Your three basic credit card types are: bank cards, travel and entertainment (T&E) cards, and house cards. Automatic Teller Machine (ATM) cards and debit cards are linked to your existing bank accounts (checking and/or savings) and should not be confused with credit cards.

Answer 3

ATM-stands for Automated Teller Machine, this card is for takin cash out from your saving or current account.

Debit Card is one from which you can shop and do online transactions, in this case money is deducted from your saving account of associated bank. i.e. Every time you swipe your card, your saving account is debited by that amount. Thats y debit card.

Credit card is opposite to Debit card as you have to pay later on and everytime you swipe your card your credit account is credited for the amount.

Now a days ATM n Debit Card comes as one. Means you can shop n withdraw cash with same card.

Answer 4

There is no difference, so long as it can be used that there is remaining sum inside, your former money making money and not earning of the difference yet, use first now.

Answer 5

Amy is correct, but most cards issued by banks are basically all three in one. You have a PIN number for use at ATM machines and to use it as a debit card at the checkout. If you use it as a debit card, you use the PIN only and do not have to sign. However, you can also opt to use it as a credit card at the checkout, in which case you do not need your PIN and will have to sign for the transaction. The money will come straight out of the account no matter how you use it.

Answer 6

ATM card has a PIN and can only be used at an ATM machine....some can be used as a point of sale.  The money comes directly out of your bank account.

Credit Card....must fill out a credit application and basically you have a spending limit and you make monthly payments until its paid off.

Debit card has a PIN to be able to use at an ATM machine or you can use it as a debit or credit as a point of sale.  The money comes directly out of your banking account.....some banks do allow debit card purchases to overdraw your account.

Hope this helps.

Answer 7

difference between a debit card and credit card

ATM/Debit Card:

Debit Cards are always tied to a Bank account [Savings or Current]. Earlier, Debit Cards came with a 4 digit PIN [Personal Identification Number] and you could use it to withdraw cash, view statements etc. They served as a Teller for your Bank account. These days, in addition to PIN and teller type ATM transactions, debit cards are endorsed by VISA or MasterCard and they can be very conveniently used like credit cards, but only if you have sufficient balance in your Account. Since you are using your own money, their is no APR [Annual Percentage Rate] or Interest.

Credit Cards:

Credit Cards are basically unsecured loans given to you by a Bank or a Financial Institution. Every credit card has a pre-set spending limit / credit limit. In India, the banks look at your Income Tax returns or your salary slip and fix the credit limit. There is a payment grace period [upto 30 days] within which you have to payback the amount you have spent on your credit card failing which you will be charged an interest on the amount used. Depending on your credit card usage and payment record your credit limit will be raised.

--------------------------------------...

http://www.bestcreditrates.net