Credit or Debit

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What is a Credit Card?

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A credit card allows you to borrow money from a bank to make purchases, which you pay back later.

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What is a Debit Card?

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A debit card allows you to spend money directly from your bank account.

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What happens if you don't pay your credit card bill on time?

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You may incur late fees and interest charges.

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What is fraud protection?

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

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When should you use a credit card?

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A credit card is good for emergencies or larger purchases that you can pay off later.

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Can you withdraw cash with a debit card?

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Yes, you can use a debit card to withdraw cash from ATMs.

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What is the main difference between credit and debit cards?

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Credit cards allow borrowing money, while debit cards use your own money from your bank account.

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What is a late fee?

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A late fee is a charge applied when you do not pay your credit card bill by the due date.

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What does it mean to 'pay back later'?

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It means you can make a purchase now and repay the borrowed amount at a later date.

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What is a credit limit?

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A credit limit is the maximum amount of money you can borrow on a credit card.