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Difference Between Credit Card And Debit Card

Credit Card And Debit Card


Credit card better or Debit card? Credit card facility or debit card more? Which will be perfect for me? These are one of the most heard listening questions in today's technology-based world. Now the most popular payment method of the electronic payment system is card payment. This is because of the availability of credit cards and debit cards, convenience, and worldwide Acceptance.




Moreover, online payment cannot be imagined without a credit or debit card. But credit cards should be used online or offline anywhere for card payment or debit card? Which type of card will be perfect for you? Let's discuss this issue today. If you have thought of getting a payment card for yourself, then today's article is for you. First, let's know,


What is Credit card?


Simply put, a credit card is a method that allows you to borrow money from a bank, for expenses. The amount of money borrowed on this loan is basically called "credit limit" of the credit card. You have been given this limit by the bank on your monthly income. For example, if your monthly income is USD 5000$, then you can usually get a credit card of up to USD 10000$.


But the credit limit may be more or depending less on the bank's policy of the bank you are receiving. But it is a big question about whether you will be eligible for a credit card. Because, generally if you are not a fairly well-paid job, then the bank will not be able to credit. Because the credit limit is given on the basis of the salaries you receive every month.



Credit card



After receiving a credit card, you can use it to make payments wherever the credit card is accepted as a payment method. If you use a credit card, the number of accounts (of course, within the limit) will be issued as a bill all month after the end of the month. Then you have to pay that bill to the bank in a specific time.


This time limit can vary according to various bank policies, but it is usually 10-15 days. And if you pay this monthly bill, you will be given the next month's credit limit. For example, if your credit limit is USD 500$, and if you spend USD 350$, then after paying the USD 350$ within the time of the issue of the bill, you will get another USD 500$ credit limit for the next month.


Credit cards usually work in both online and offline areas. However, if you want to use your credit limit outside of the country, you want an international passport, you will need an international passport. If you do not have a passport, no matter how many millions of credit limit you have, you can not make any payments or transactions outside the country with the help of a credit card.




credit card


If you have your passport, you can enable your credit card for international transactions and convert a certain portion of your credit limit to foreign currency, so that you can make payments in foreign currency when you go abroad. Besides, you can also make online international transactions. For example, to purchase an app/games from the Google Play Store, or to purchase products from future e-commerce sites, or to spend on Facebook Boost or Google Ads.

What is Debit Card?



When we make a bank account and ATM card is given to us to spend the money in the bank account, it is basically a debit card, which in many cases is also known as "bank card". To spend money on debit cards, you have to have money already in your bank account or your bank account. There is no such thing as your monthly income or job or your credit limit. The only thing about this is that you have money and you are paying or spending money through the electronic payment system.



Suppose you have USD 1000$ in your bank account. If you have a debit card against your account from the bank you also have USD 1000$  in that. Whenever you make a payment or debit cash with a debit card, The amount you spend on it will be instantly deducted from your bank account. Basically, the payment will be made from your bank account. Holding a debit card in a pocket means you can keep your bank account in your pocket with its entire balance. And for this reason, a debit card is issued with the account of the bank account creation.


Debit Card


Debit cards usually do not work internally, but in many cases, banks can give you the opportunity to use your debit card abroad through special conditions and activities. But it depends entirely on the bank's decision. However, if you have the opportunity to use a debit card, you will also need an international passport. However, debit cards are generally used to make payments to any stock in the country or to withdraw cash from an ATM or make payment online.

Prepaid Debit Card


Currently, some banks in the country issue a special type of international debit card, which is usually called a prepaid card. To use these debit cards you do not need to have any bank account and you do not have to be a job holder. In these cards, you will have to deposit the money in advance against the card and you can use this card only after you deposit it.


And if you have an international passport, you can deposit forex currency (USD, EUR, GBP) and you will be able to make small international transactions. Besides, you can also make online international transactions. For example, to purchase an app/games from the Google Play Store, or to purchase products from future e-commerce sites, or to spend on Facebook Boost or Google Ads. However, for all these international transactions you will need to keep your passport. You can deposit, then spend it, then deposit it again, spend it again. This way prepaid cards work in the same way.



Which is Better


I hope there is a little bit of idea about how credit cards and debit cards work and what are the main differences between these two Most of the banks in the country now offer credit and debit cards? Now the main question is, what is Better for you? Which One Do you use?


The answer depends on what you do and you will use these cards for the purpose. If you are a job holder of a permanent attendant salary, then a credit card is perfect for you. Besides, the credit card is the best and most reliable payment method for card payment and international payments.


Prepaid Credit Card



So if you are a job holder and have your passport and you have frequently foreign transactions, try taking a credit card. Because there are not many debit card payments support in many places online, the credit card must be supported. Moreover, with the help of debit card, if you want to make an international payment, sometimes there are many problems and limitation due to payment processing. However, you will not have to read or read very little about such problems with a credit card.


And if you do not need anything and you only want to make local payment or online transactions within the country, then there is no bank card or ATM card linked to your bank account and account. It does not have to be a problem for you. You can get it if you want.




And if you are not a job holder, you sometimes need to have a little online transaction and international transaction, such as if you want to make payments in Facebook Ads or Google Ads, or if you want to buy products from Alixpress or buy an app, for those small transactions You can take an international prepaid debit card. If you are a job holder, you can also use prepaid cards if you do not want to be liable with the bank about taking credit limits, paying bills.



This was the difference between a credit card and debit card. I hope you have decided on your own that if you need a payment card, then which type of card will be perfect for you. If you still have any questions, you can report it in the comment section below. If there is an opinion but in the comments section.



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