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credit vs. debit?
can someone please tell me what the difference is between credit and debit? thanks.
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If you're referring the cards, I think the other posters have explained it quite well. However, if you're referring to on a financial statement, it is different. A credit is money added to your account (ex:a deposit). A debit is money coming out of the account (ex:a check).
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Hey,
Credit-Money you can keep using... til' the bill comes anyway
Debit-Money straight from your account.
hope that helped :)
♥Momo
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Credit is where you charge stuff and then pay the bill. Debit is when you put money into an account and use that money to pay for things, so you can't go into debt that way, as far as I know.
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With credit, you get billed. With debit, the money automatically comes out of your account.
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OK Well A credit card is money that is being barrowed to you by places like mastercard and Visa. a Debit card is a card given from your bank that when you use it takes straight from your bank account. so the difference is that the credit card is money that you dont have yet but have to pay back and a debit card is money that you do have.
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as far as i know credit is just like borrowing money on a card (credit card) and you pay it back at the end of the month w/interest
and a debit card you are basically using your own money from an account and it subtracts it from you when you purchase something
i pretty sure thats it.
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