Though the debit card is your debit money and credit card is your credit money, let’s drill down the exact differences between debit card and credit card. Credit card is also referred as CC.
Debit Card VS Credit Card
|Debit Card||Credit Card|
|Used when you have balance in your banking account.||Used regardless of balance on your account as per the available credit limit set by your bank.|
|Same as prepaid. Put your money in to your account and then use.||Same as post paid. First use then pay.|
|You will get interest for keeping your balance on your savings account.||You have to pay the interest if you didn’t pay the credit bill by the due date.|
|Can’t be used for EMIs.||Attractive EMI options are applicable only for Credit Cards.|
|Most banks offer you a free debit card immediately when you apply for the account.||Getting credit card is difficult. Your monthly earning and CIBIL score is considered. If you already have a credit card or have a loan and you are paying EMIs without any dues, you can get a CC. Otherwise it would be difficult.|
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