Difference between debit and credit?
A debit card takes money out of your bank account the instant it's used. It's just like handing someone cash. If you are scammed or if you buy something on the internet and don't receive it, then you have no recourse. The money is gone. Debit cards don't take any interest out of your account When you use a credit card (CC), you are borrowing money from the CC company. They pay your bill on your behalf. Then the CC company sends you a statement showing the amount you owe them. If you pay them within the specified time period (grace period), you don't pay any interest. However, if they receive your payment after the grace period, then you have to pay interest on the money you owe. They compound that interest monthly. Note that they credit you when they receive your check, not when you mail the check. Remember that it takes 3 to 4 days for your mail to receive the credit card payment.
What's the difference between credit and debit?
credit is paid back at the end of the month or over time debit is taken out of your account and won't allow you to debit more than you already have. if you are talking about a check card there is no difference. although there is never a surcharge for credit sometimes places charge a fee for using a debit card.
What is the difference between debit interest and credit interest?
debit interest means you are paying your liability of interest. credit interest means you are receiving as interest