Is a credit card better or a 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 and debit cards, convenience, and worldwide Acceptance.
Moreover, online payment cannot be imagined without a credit or debit card. But should credit cards be used online or offline anywhere for card payment or debit cards? Which type of card will be perfect for you? Let’s discuss this issue today. If you have thought of getting a payment card, then today’s article is for you. First, let’s know,
What is a 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 called the “credit limit” of the credit card. The bank has given you this limit on your monthly income. For example, if your monthly income is USD 5000$, you can usually get a credit card for up to USD 10000$.
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 whether you will be eligible for a credit card. Because generally, if you do not have a reasonably well-paid job, then the bank will not be able to credit you. Because the credit limit is given based on the salary, you receive every month.
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 after the month’s end. Then you must pay that bill to the bank at a specific time.
This time limit can vary according to 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$, and you spend USD 350$, 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, and you will need global access. If you do not have a ticket, no matter how many millions of credit limits you have, you can not make any payments or transactions outside the country with the help of a credit card.
If you have your passport, you can enable your credit card for international transactions and convert a particular portion of your credit limit to foreign currency so that you can make payments in foreign currency when you go abroad. You can also create online international transactions. For example, purchase an app/game from the Google Play Store, purchase products from future e-commerce sites, or spend on Facebook Boost or Google Ads.
What is Debit Card?
When we make a bank account, and an ATM card is given to us to spend the money in the bank account, it is a debit card, which in many cases is also known as a “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, job, or credit limit. The only thing about this is that you have money and 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$. 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. 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 history of the bank account creation.
Debit cards usually do not work internally, but in many cases, banks can allow you 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 to withdraw cash from an ATM or make payments online.
Prepaid Debit Card
Currently, some banks in the country issue a particular type of international debit card, usually a prepaid card. To use these debit cards, you do not need to have a 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. BesidesYouso creates online international transactions. For example, purchase an app/game from the Google Play Store, purchase products from future e-commerce sites, or spend on Facebook Boost or Google Ads. However, you will need to keep your passport for all these international transactions. You can deposit, finish it, deposit it, and spend it again. This way, prepaid cards work in the same way.
Which is Better
I hope there is a little bit of an idea about how credit cards and debit cards work and 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 payments and international payments.
So if you are a job holder with your passport and you frequently have foreign transactions, try taking a credit card. Because there is not much debit card payment support in many places online, credit cards must be supported. Moreover, with the help of a debit card, if you want to make an international payment, sometimes there are many problems and limitations due to payment processing. However, you will not have to read or read very little about such issues with a credit card.
And if you do not need anything and only want to make a 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 suppose you are not a job holder. In that case, 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 to the bank for taking credit limits and 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.