The benefits of card outnumber cash. Not only do you get ease, convenience, security, you also get to earn points and enjoy special offers.
How is debit different from credit?
A credit card uses money from a credit line – when the bank pays the shop first, then you pay the bank later. A debit card deducts from money currently existing in your bank account.
Debit card vs prepaid card
A debit card requires a bank account from where it gets the money you use to pay. A prepaid card doesn’t require a bank account, but requires you to load money into the card before you use it.
Differences of debit, credit, prepaid
The difference is when you pay. With a credit card, the bank pays the shop first, then you pay the bank later. With a debit card, you pay with money currently existing in your bank account. With a prepaid card, you load your card with money before you use it.