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Categories >> Accounting >> Accounting AllOther


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what is the difference between debit card and credit card
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
debit card
it can be useful when our bank account has sufficent
funds at the time of using it.instead of cheques we can
use this card to with draw our money. it is asset.

credit card:
the name itself says the meaning of it. it will be provided
to the person who is eligible to get credit by the
financial institutions and banks. we can get credit
through this is a liability.
Is This Answer Correct ?    159 Yes 31 No
# 2
Debit card:
to use a debit card a person must have sufficient amount in
his/her account and and shopping is limited to the amount
avail in the account, it cannot be exceeded. From debit card
the amount is transacted/debited at the very moment as and
when it is utilized.

Credit card:
To use credit card one need not have to have money/amount in
his/her account. They are the special type of customers
because banks issued credit cards to them based on some
attributions or features. When the credit card is being
swapped by the shopkeeper, the amount does not get
transacted at the very moment infact it is being transacted
approximately after 5 or 7 dayz. There are certain limited
amount which the banker allowed to itz customers upto which
they can utilized. From this there is a certain amount upto
which no interest is being added till 1/2 months of
repayment but utilisation of more than this will carry 4%
approx. interest.
Is This Answer Correct ?    91 Yes 9 No
Joydeep Das
# 3
The following affects are reflected when the those cards
are used.

debit card = decrease in credit balance of bank a/c
of a accout holder.

credit card = increase in debit balance of bank a/c of
a account holder.

these cards are used in the same way, but in the case of
debit card we would have amount in the account and in the
case of credit card no need to maintain amount in the
account but we have to pay after bill payment to the banker.
Is This Answer Correct ?    55 Yes 8 No
# 4
It is similar to prepaid paid and post paid sim cards.

Debit card = Prepaid
You can utilize for the amount that is present in
your bank account. Once your balance crosses zero, You can not use it, again you have to fill your account.

Credet card = Postpaid
You can have either have the amount already in your account or you can deposit amount later but it has to be done within a specific period.

Your credit card can be used for internet transactions but not debit cards.
Is This Answer Correct ?    51 Yes 8 No
# 5
Debit card is a asset and if we use it our account is
debitted and we cannot withdraw amount below zero if tod is
not there.
Credit card is a liability and we can get money from the
account,there is no need for balance in the account.
Is This Answer Correct ?    18 Yes 2 No
Vineeth P
# 6
debit card is a asset and is tied to a bank a/c
credit card is a liability and one can hav loans from bank
or financial institution based on some features/attributes
provided by d need of maintaining d balance in
his/her a/c
Is This Answer Correct ?    24 Yes 12 No
# 7
debit card also can use in the internate transaction....... 
Is This Answer Correct ?    19 Yes 10 No
# 8
DEBIT CARD : we can have cash withdrawls using debit cards from ATM'S

CREDIT CARD: we cannot have cash withdrawls using credit cards..!!
Is This Answer Correct ?    2 Yes 0 No
Akshay Sachdeva
# 9
u r saying wrong if u think that we can take money from
credit card if we r having any type of account in the
Is This Answer Correct ?    1 Yes 0 No
# 10
debit card mean u spend money from your bank account.
cedit card mean u spend money from bank loan provided by bank
Is This Answer Correct ?    1 Yes 0 No
Rakesh Singh

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