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The Difference Between A Credit And A Debit Card Every Individual Should Be Aware Of

Many people go-ahead to open a bank account to save money or to be able to secure a loan in the nearest future, while opening an account an individual request to get a bank card for them to purchase items without having to come to the bank to collect money before purchasing what they want to purchase.

When a bank is issuing a card it’s either they issue a Debit or a Credit card to their customer. I know one thing for sure that many persons can’t tell the difference between credit and debit card use and that is why I decided to take it open myself to explain the difference there is between both cards.

1 Debit card

A debit card is a payment card that deducts money directly from your bank account whenever you redraw money out of your account balance. A debit card is a card you use to collect money from your account through an ATM. A debit card is also known as “bank cards or “check cards”. These cards can also be used to pay for whatever item you purchase online.


2 Credit card

As for a Credit card, it is a plastic card issued by a bank to their customer just like a debit card is issued by a bank to their customer. But unlike a debit card that debits money owed by a customer from their account, a credit card is a card that allows an individual to purchase goods and services on credit.

Many of us in Nigerian make use of a debit card that debits money from our account anytime will redraw from it. One reason why many persons don’t use a credit card is that it is a card that enables you to buy on credit meaning you will be in debt till you pay all the money you have spent.

Many individuals who can afford to pay for what they have spent by the end of every month like using a credit card instead of a debit card cause it is safer. Why this is so is because any fraudulent transaction that is made using your debit card, the money will be deducted from your account, but if it’s a credit card, it will not be deducted.

In some foreign countries people like using a credit card so that at the end of the month the money they have spent will be deducted from their salaries.

Another thing your should be informed about,is that a card can not be both debit and credit because they are different.

Now that you know what the difference between both cards is, I hope you can be able to make a good decision on which is better for you.

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About the author

Mc Ebisco

Welcome to Mc Ebisco, I am a blogger and a comedian in Nigeria, My aims and objectives are to share knowledge and varieties of news and information across the globe.

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