{"id":604,"date":"2013-03-31T10:57:10","date_gmt":"2013-03-31T10:57:10","guid":{"rendered":"http:\/\/www.dontspendmore.com\/blog\/?p=604"},"modified":"2013-03-31T10:57:10","modified_gmt":"2013-03-31T10:57:10","slug":"credit-cards-vs-debit-cards-a-comparison","status":"publish","type":"post","link":"http:\/\/www.dontspendmore.com\/blog\/index.php\/credit-cards-vs-debit-cards-a-comparison\/","title":{"rendered":"Credit Cards Vs Debit Cards: A Comparison"},"content":{"rendered":"

By David<\/p>\n

Many people become confused when they try to get a credit card and debit card comparison<\/b>. In many cases the two can be used interchangeably to accomplish the same thing, so what is the difference?<\/p>\n

Click here to compare 0% credit card offers and save hundreds. Free comparison tools.<\/a><\/p>\n

Similarities<\/b><\/p>\n

While a credit card and debit card comparison<\/b> will yield results that differentiate the two, they do have common elements. Size, shape, and location of information on the card are the most notable similarities. Additionally they can be used in the same places and situations assuming of course that you debit card is associated with a major credit card.<\/p>\n

 <\/p>\n

Credit Cards<\/b><\/p>\n

One quickly discovers while doing a credit card and debit card comparison<\/b> that credit cards are distinctive in many different ways.<\/p>\n

    \n
  1. How they work<\/span> \u2013 a credit card isn\u2019t attached to an account that you have money in, but rather is a means of borrowing money against future income.<\/li>\n
  2. Fees & Interest<\/span> \u2013 because you\u2019re borrowing money when you use a credit card it has associated with it an interest rate known as an APR (annual percentage rate) as well as other fees associated with its use.<\/li>\n
  3. Risks<\/span> \u2013 since using a credit card is a form of borrowing money and especially as there is interest to be paid if the money is not returned in a timely fashion its use can become very pricy very fast if you are not careful to make sure to pay back what you borrow. Additionally extra fees are assessed if you forget to make a payment on time or accidently exceed your credit limit.<\/li>\n
  4. Rewards<\/span> \u2013 credit cards allow you to borrow often significant amounts of money in the case of emergencies that your savings just cannot cover.<\/li>\n<\/ol>\n

    Debit Cards<\/b><\/p>\n

    In a credit card and debit card comparison<\/b> we see a number of distinct features associated with debit cards.<\/p>\n

      \n
    1. How they work<\/span> \u2013 a debit card is attached to an account you have money in, typically a checking or savings account and allows you to use money from that account without having to stop at a bank to pick up cash from a teller. They can also be used in conjunction with an ATM to withdraw cash from the associated accounts.<\/li>\n
    2. Fees & Interest<\/span> \u2013 Depending on where you are and what kind of debit card you\u2019re using, there could be anywhere from a $1 to $5 fee for making a withdraw using an ATM not owned by your bank.<\/li>\n
    3. Risks<\/span> \u2013 risks of using a debit card include overdraft fees for spending more money than you have in your account, cards not associated with a major credit card company not being accepted at stores, and fewer identity theft security measures than regular credit cards.<\/li>\n
    4. Rewards<\/span> \u2013 As you are the holder of the money, there\u2019s no interest associated with its use<\/li>\n<\/ol>\n

      Now that you have a clear comparison of debit cards and credit cards<\/b> you can make an informed decision about which type of card is right for you.<\/p>\n

      Click here to compare 0% credit card offers and save hundreds. Free comparison tools.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

      By David Many people become confused when they try to get a credit card and debit card comparison. In many cases the two can be used interchangeably to accomplish the same thing, so what is the difference? Click here to compare 0% credit card offers and save hundreds. Free comparison tools. Similarities While a credit […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-604","post","type-post","status-publish","format-standard","hentry","category-credit-cards"],"_links":{"self":[{"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=604"}],"version-history":[{"count":2,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/604\/revisions"}],"predecessor-version":[{"id":606,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/604\/revisions\/606"}],"wp:attachment":[{"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dontspendmore.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}