Credit cards and debit cards are two of the most popular payment methods today. Both offer convenience and security, but there are important differences between them. This article will discuss these differences in detail and explain which card is best for different situations.
About Difference Between Credit Card And Debit Card
| Credit Card | Debit Card |
|---|---|
| Issued by a bank or financial institution. | Linked to your checking account. |
| Allows you to borrow money from lender. | Funds are drawn directly from your account. |
| Interest applied on unpaid balance. | No interest charged. |
| Can be used to make purchases online. | Designed for in-person transactions only. |
| Generally requires good credit score. | No credit check required. |
| Provides rewards, cash back and other benefits. | Fewer perks than credit cards. |
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