Difference between credit card and debit card
Difference between credit card and debit card A credit card allows you to borrow money to money to pay for things. There will be a limit to how much you can borrow. Now days credit cards are of great convenience. Credit card is a kind of plastic card. Debit card usually allow instant withdrawal of cash, acting as an ATM card for this purpose. A debit card is a plastic payment card that can be used instead of cash when making purchase. Credit card : First credit card was issued in 1950 by Diner's club Inc. They were used to pay restaurant bills at first. Credit card is offered only to those customers having minimum credit score as per their income. While credit card enable you to spend even if you have less or no money in your bank account. When you make purchases using credit card the amount is billed as outstanding balance which has to be paid in 30 days generally. Credit card user have a limit for expenditure which is decided by th...