Getting to Know Credit Cards and Debit Cards
One of the most convenient innovations in the financial industries was the implementation of the credit card. With credit cards
, consumers have the opportunity to buy now and pay later. This convenience allows consumers to shop with the ability to purchase something immediately, or allowed them to have the ability to withstand emergencies and not be concerned about having the ability to pay for them. Credit cards are issued by financial institutions typically with the Visa or MasterCard brand. However, other cards such as American Express and Discover offers similar functionality. Another convenient innovation is that of the debit card. Debit cards offer the convenience of access to consumers checking accounts without the need to carry a checkbook. With a debit card
, consumers can use them at millions of locations, like a credit card, but with the limitation of the amount in the checking account. The good thing about debit cards is that the users can only spend up to the amount that they have in their account, unlike a credit card where they can spend up to the credit limit.
Continue Reading - Credit Cards and Debit Cards, Part 2