Debit Cards

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Debit Cards

Published by sam - 15/09/07 - 10:09:03 am

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Although a debit card is neither a credit nor a T & E card, it is often confused with a charge card because it is similar in appearance and can be used in the same situations. A debit card offers you no credit whatever. Instead, the moment the merchant processes your transactions, the charges is electronically deducted from the card’s associated checking account balance. The only advantage offered by this type of card is that it frees you from having to write personal checks and persuade merchants to accept them. On the other hand, if your checking account earns interest, this instant deduction will lose you interest for the two or three days that are required for a personal check to clear.

Debit Cards

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