Credit And Debit Cards; what’s The Difference?
Many people don’t see the difference between a credit card and a debit card. Because they believe both cards provide almost the same financial output for them; let them buy things. If you wish to manage your finances smartly, it is imperative to learn the difference between these two. Credit Card With the credit card, a financial institution like a bank allows the user to borrow money from them on a short-term basis. Stillwater bank and trust is one such institution. Later, the user has to return the money with interest (differs from one card to another and based on plans). The primary benefit of credit cards is that you can borrow more money than what you have in the account. When a user withdraws cash from the credit card, he is taking debt from that financial institution. Yes, users can withdraw money from credit cards, just like a debit card. However, the interest rate, the limit, and other features vary from one card to another. There are various types of credit cards,