Whenever you talk about online transaction or you need it somewhere, you will mainly present two things. Which are Debit Card and Credit Card. But what is the last debit card and credit card. You have to understand this because now if you do not understand debit card and credit card then there may be some problem for you. Because many people think that debit card and credit card are same. But there is a difference of earth and sky between these two. Though the principle of working of both is same but their service, limit and amount are different. What is the difference between credit card and debit card.
What is the difference between credit card and debit card
And both are also used for different purposes in many places, this happens in many places. If you want to pay now, then you will not get the option of debit card there. You will get only credit card option. So in such a situation, if you do not have a credit card, then you will not be able to use that service. And if you see a lot of offers on Amazon Flipkart. So in that you would be shown at many places that by using credit cards of some banks you get a lot of discount. Let us first know what is the difference between debit card and credit card.
How do credit cards and debit cards look?
If we talk about the difference in the look of credit card and debit card, then there is no difference between them. Debit cards and credit cards are similar in appearance. And their thickness, length and width are all the same. You can use both debit cards and credit cards at all ATM machines.
And the main differences of credit cards and debit cards from the rest are as follows.
What is Debit Card
- There are many types of Debit cards such as Rupee card, Mastercard, Visa card etc.
- Debit card is also known as ATM card. Whether you call it an ATM card or a debit card, both are the same thing.
- When you come to open your bank account, then at the same time a debit card is also applied for you. And if your ATM card expires. So you can apply for a new ATM card. And if you don’t have one, you can get a new ATM made anytime.
- There is no limit of money in ATM card as much as the balance in your bank account. You can withdraw but only as much as you have in your bank account. Due to which you will not get even a single rupee more.
- Through ATM card you can also create UPI or Ballot account like Google on phone etc. And on creating an account with a debit card, transactions are done from your bank account through UPI.
- Debit cards are issued only by the bank in which you open your account.
What is credit card
- You don’t get a credit card when you open a bank account. Because the credit card does not have any relation with the bank account. You may or may not have an account with that bank. But if you are credit card eligible, you can get a credit card.
- In a credit card, you are given a fixed amount by that bank. That too according to your situation which is in the form of a loan.
- Credit card is made of any one fixed amount. If your qualification is that you can be given a credit card of 50000. So the bank will give you a credit card of 50000.
- Credit card is not given to everyone as it is a kind of loan. And before issuing a credit card, the income and background of that person is seen. Whether that person is eligible to be given a credit card or not.
- Although the amount is given on the credit card. But it is not completely handed over to you. Rather, it is given to you as red, and you can spend it wherever you want. But you also have to refill it. And if you don’t pay it on time, that credit card company/bank will charge you interest.
- To get a credit card, it is not necessary that there should be a bank, but other finance companies will also give you a credit card.
- You can get the benefit of credit card in many places such as online shopping or other web services because if credit card is used in many places. So there is a lot of discount available, and in many places only credit card option is available for payment.
What should I take credit card or debit card
By the way, you can take anything, debit card or credit card, but before taking it, you should see about your needs that what you need. Since you do not need a credit card right now, you should not worry about credit cards. Because it will take some time for you to give the credit card. Because when you want to give a credit card, you have to contact the bank or finance company. And many types of verification will have to be completed.
And you have to show your statement that how much is your income. If you are given a credit card, then after exhausting the amount will you be able to fill it or not. Agreed that if you take a credit card, you can benefit from it in many places. Because you can get discount in many places. But it is not necessary that the bank whose credit card you take will get the discount on the same bank. Yes, there can be a negative point for you.
For example, if you take a credit card of ICICI Bank and you want to buy a product on Amazon. And in that you are getting a discount on that product. But it may be that he is giving a discount on the credit card of some other bank. Like axis, HDFC etc. then you will not get any benefit from that too.
So we have to say about this that if your income is substantial, then you can take it. Because giving a credit card to you would be too small a thing. But if your income is not very good. If your circumstances are not very good then you should not think about credit card. Because this can be a bigger problem for you. You may not be able to top up your credit amount after exhausting it. Even if interest starts accruing on it, there can be a problem for you.
And as far as it is concerned, online payment of online transactions and mobile recharge, etc. whatever it is. So you can do it very easily through debit card, which you can do on Google, on phone, with Paytm etc. And right now you have an ATM card, so you can very easily create an account on your Google phone. And all types of online transactions can be paid online. And if need arises, you can also make payment using direct ATM i.e. debit card.
So you have got the complete information above that what is the difference between credit card and debit card. And we have also given you information that what is right for you in both of these. Yes but if you have a very extreme need. So you can feel free to take a credit card. On which you will get some amount as loan. But if you are not very urgent, then do not take a credit card. Because it may increase your problems.
How to make a credit card
You have to approach a bank for a credit card. And the bank will issue a credit card to you only after looking at your financial data. Maybe even refuse to give you a credit card. But if you get 15000+ month salary. So there are chances that you will get a credit card.
How to make Debit card
You will not need to get the debit card made, but when you open a bank account. So at the same time the debit card is also applied for you. And after a few days you will get your debit card. But if you do not have a debit card, then you will have to go to your bank for this. Where you will have an account and they will have to write an application. In which you have to tell that you need a debit card. And after giving the application, you will get the debit card in 20 – 25 days.
In this article, you learned what is the difference between debit card and credit card. We hope this information will prove useful for you.
Debit card is linked to your bank account and is used for transactions with your bank. While there is a credit card loan.