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Comparing Credit Cards. By- Jaydeep Shah. Debit Cards. Debit cards are similar to credit cards . Debit cards do  not  create or increase a loan like credit cards do. You can use debit cards very much like a plain old credit card.

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Comparing credit cards

Comparing Credit Cards


Jaydeep Shah

Debit cards
Debit Cards

  • Debit cards are similar to credit cards.

  • Debit cards do not create or increase a loan like credit cards do.

  • You can use debit cards very much like a plain old credit card.

  • Funds taken from the money that you have in your bank account. (Spending your "own" money)

  • You can be use as Debit Card and Credit Card.

  • There is no line of credit in Debit Card.

  • It does not affect credit history.

  • Debit Cards equals to your account limit.

  • Debit Cards connected to Checking Account, and Savings Account.

  • Cheque and Cash is alternate payment type of Debit Card.

  • Debit cards never charge interest.

  • Sometimes somewhere Debit Cards ask for PIN Number.

  • Debit Cards never give us any offer protection.

Credit cards
Credit Cards

  • A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale.

  • You can be used as Credit Card only.

  • Credit Card need not be connected to any bank account.

  • Credit Cards’ limit is – credit line, which can be increased/decreased from the time of applying.

  • Credit Cards carries line of credit.

  • Cash is Alternate Payment Type of Credit Card.

  • Credit Cards charge interest. Credit Cards have higher interest rates (around 19% per year) than most consumer loans or lines of credit.

  • Credit Card never ask for PIN Number.

  • Credit Cards give us the offer protection. Ex.Insurance on a rental car.

Master card
Master Card

  • Master Card is the #2 payment system in the US.

  • 0% introductory APR on purchases for the first 12 months after account opening. After that, variable APR, currently 14.99% or 18.99%, based upon your creditworthiness.

  • Credit Cards founded in 1966.

  • 5,600 Employees were working in 2010.

  • MasterCard Worldwide is an American multinational corporation with its headquarters in the MasterCard International Global Headquarters in Harrison, New York, United States.

  • $89 is Annual Fee for Credit Card.