1.

Distinguish between Debit card and Credit card.

Answer»

Difference between Credit and Debit Card:

Credit cardDebit card
Borrowing money from a bank or financial institution. (Spending "other's" money)Funds taken from the money that you have in your Bank account. (Spending your "own" money)
Need not be connected to any bank accountNeeds Checking Account / Savings Account
Pay additional interest drawn on the amount borrowedNo interest to be paid
Limit: Credit lineLimit: Equals your account balance / limit


Discussion

No Comment Found

Related InterviewSolutions