How is debit different from credit?
A credit card uses money from a credit line – when the bank pays the shop first, then you pay the bank later. A debit card deducts from money currently existing in your bank account.
When is card better than cash?
The benefits of card outnumber cash. Not only do you get ease, convenience, security, you also get to earn points and enjoy special offers.
Debit card vs prepaid card
A debit card requires a bank account from where it gets the money you use to pay. A prepaid card doesn’t require a bank account, but requires you to load money into the card before you use it.
Differences of debit, credit, prepaid
The difference is when you pay. With a credit card, the bank pays the shop first, then you pay the bank later. With a debit card, you pay with money currently existing in your bank account. With a prepaid card, you load your card with money before you use it.
