Debit and Credit cards

A credit card is a plastic card that allows the holder to borrow money from a financial institution, up to a certain limit, to make purchases or withdraw cash. When using a credit card, the cardholder is essentially taking out a loan, which must be repaid along with interest and any fees that may apply.

Credit cards are widely used for convenience and security in making purchases, both in-person and online. They often come with benefits and rewards, such as cash back, points, or airline miles etc., However, one has to take proper care while using them, as they can lead to certain risks.

A debit card is a payment card that is linked to a checking or savings account and allows cardholders to make purchases and withdraw cash from ATMs. When a purchase is made using a debit card, the funds are immediately deducted from the linked account. Debit cards can be used to make purchases at merchants that accept them, online purchases, and for withdrawing cash from ATMs.

A credit card is a plastic card that allows the holder to borrow money from a financial institution, up to a certain limit, to make purchases or withdraw cash. When using a credit card, the cardholder is essentially taking out a loan, which must be repaid along with interest and any fees that may apply.

Credit cards are widely used for convenience and security in making purchases, both in-person and online. They often come with benefits and rewards, such as cash back, points, or airline miles etc., However, one has to take proper care while using them, as they can lead to certain risks.

A debit card is a payment card that is linked to a checking or savings account and allows cardholders to make purchases and withdraw cash from ATMs. When a purchase is made using a debit card, the funds are immediately deducted from the linked account. Debit cards can be used to make purchases at merchants that accept them, online purchases, and for withdrawing cash from ATMs.