Debit & Credit Cards

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What is a Debit Card?

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A debit card is a payment card that allows you to withdraw money directly from your checking or savings account to pay for purchases.

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What is a Credit Card?

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A credit card is a payment card that allows you to borrow money from a bank or financial institution to make purchases, which you pay back later.

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How does a Debit Card work?

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When you use a debit card, the money is immediately deducted from your bank account.

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How does a Credit Card work?

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When you use a credit card, you are borrowing money up to a certain limit, which you must pay back, usually with interest.

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What is a PIN (Personal Identification Number)?

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A PIN is a secret number used to authenticate transactions made with a debit card.

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Do Debit Cards require a PIN for purchases?

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Yes, debit cards typically require a PIN to complete a transaction.

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Do Credit Cards require a PIN for purchases?

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No, credit cards usually do not require a PIN; instead, they may require a signature or a security code.

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What is fraud protection?

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Fraud protection is a feature that helps protect cardholders from unauthorized transactions.

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Do Debit Cards have fraud protection?

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Yes, debit cards have some level of fraud protection, but it may be less comprehensive than credit cards.

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Do Credit Cards have fraud protection?

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Yes, credit cards generally offer strong fraud protection, often covering unauthorized charges.