It's clear that these two types of cards have specific functions that will depend on spending habits and how people prefer to manage their money. But what are the differences between credit and debit cards at a glance?
Previously, it was easy to quickly tell the difference between the two cards. Credit cards used to have their number embossed on them, while debit cards only had it printed or engraved.
However, today it is necessary to examine all sides of the card, especially the area below the signature on the back, which indicates whether it is a debit or credit card . In addition, some bahamas phone data issuers, such as Visa , include the type of card on the front side.
If none of these methods work, you can always call the issuing bank to provide you with all the necessary information.
When to use a credit card or a debit card?
It is common to confuse both cards and think that they work in the same way. However, in addition to the differences between credit and debit cards , each has different uses that allow you to get the most out of them.
A credit card is useful when you do not have enough money in your bank account to make a purchase. You can also use it to make purchases in installments, as long as these payments are included in your personal budget, to prevent debts from accumulating.
To pay for subscriptions or services, it is advisable to use a debit card, as it makes it easier to pay bills directly from your account.
The debit card is most commonly used for daily expenses such as food, leisure or gasoline.
Credit cards are most commonly used when purchasing durable goods, such as furniture, appliances, technology, and things that may be useful in the long term.
A credit card is especially useful in case of emergencies, as it allows you to cover extraordinary expenses that are not included in your budget.
Tip : When using a credit card, it is essential to pay attention to two key dates. One is the cut-off date, which closes the account for the last 30 days. The other is the payment or due date, which is usually between 15 and 20 days after closing, and is the limit that the cardholder has to pay what he or she has consumed without incurring late interest.
Person making a credit card payment in an online store.
Which is better: a debit or credit card?
Choosing between a credit or debit card depends on individual needs and preferences. While a credit card provides additional financial support, it also comes with greater responsibility.
On the other hand, debit cards allow for better control of expenses, since the money is withdrawn directly from the account and it is not possible to go into debt.
However, credit cards offer additional advantages, such as a more robust security system against fraud and certain cumulative benefits with their use.
In addition, using credit cards creates a history that, if favorable, is useful for obtaining loans and long-term sources of financing . However, irresponsible use can harm the credit profile and result in a negative history.
Comparison table between a credit card and a debit card
To summarize, we present this comparative table with the most relevant aspects to consider, taking into account the differences between credit and debit cards.