Whats the difference between using a bank debit card as a credit or as a debit card?

Question

i just got a new card from a bank for my checking account and it can be used as debit or credit in most places. what is the difference?

Answer 1

debit card is not credit. It is taken immediately out of your checking account just like when someone cashes one of your checks. they require you to enter your pin number and that's why you can also get cashback.

a credit card is one where you pay off the debt monthly and if you do not pay by the due date, you are charged interest for the amount borrowed.

Answer 2

Not much,  both come out of your checking account right away.

However, a few banks and few merchants charge for pin transactions.   So check with your bank and see if they charge for pin transactions.   Otherwise it is your choice at most merchants.

Answer 3

i think a bank debit card just takes money out of ur  bank account

Answer 4

as credit u will have grace period to pay and they charge interest if you cant paid in full, as debit it will draw instantly when the transaction went thru and its almost impossible to dispute a debit =debit is ur lost , credit is protected.so u should alway use it as credit for big purchases