Debit & Credit Cards

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What is a Debit Card?

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A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase.

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What is a Credit Card?

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A credit card is a payment card that allows the cardholder to borrow funds from a pre-approved limit to pay for goods and services.

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What does PIN stand for?

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PIN stands for Personal Identification Number, a security code used to authenticate the user of a debit card.

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What is required to make a purchase with a Debit Card?

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A PIN (Personal Identification Number) is required to make a purchase with a debit card.

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What may be required when making a purchase with a Credit Card?

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A signature may be required when making a purchase with a credit card.

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What should you do if your card is lost or stolen?

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You should report it immediately to your bank or card issuer.

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Do Debit Cards have fraud protection?

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Yes, debit cards may offer some level of fraud protection, but it can vary by bank.

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Do Credit Cards have fraud protection?

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Yes, credit cards typically offer strong fraud protection and liability coverage.

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Can both Debit and Credit Cards be used to purchase goods and services?

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Yes, both debit and credit cards can be used to purchase goods and services.

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What is the main difference between a Debit Card and a Credit Card?

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The main difference is that a debit card uses funds directly from your bank account, while a credit card allows you to borrow money up to a limit.