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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

By-

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.
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