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Showing posts with the label Difference Between Debit Card and Credit Card

Difference Between Debit Card and Credit Card

Difference Between Debit Card and Credit Card:         Debit Card Credit Card 1.       Debit card id equal to your account value. 2.       It is an Asset 3.     To use a debit card customer should have      sufficient balance in his / her bank account.   4.       It is like a Prepaid system 5.      You cannot buy an item with price higher then your balance. 1.     When you use Credit Card. You are Actually borrowing money from bank/financial institution 2.      It is Liability 3.      To use a Credit card customer may not have sufficient balance. 4.      It is like a Postpaid system 5.     You can buy an item with price higher then your bank balance (upt...