Debit Cards Vs. Credit Cards: Understanding What They Are And When To Use Them
Source: Bank of America
Putting something on "Plastic" used to mean one thing - using your credit card. But these days, debit cards are also a big part of the "Plastic" world. Do you know the differences and which one is better for you? When you use your debit card, you're withdrawing money directly from your checking or savings account by making the purchase. When you use a credit card, you're accessing a line of credit from the bank or organization that issued your card. Each purchase is essentially a loan that you repay later.