Question

What is the difference between a debit/ATM card and a credit card?

Answer 1

Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Credit cards allow you to borrow money from the card issuer up to a certain limit to purchase items or withdraw cash.

Answer 2

Debit/ATM cards are linked directly to your bank account and use money that you already have. Credit cards allow you to borrow money from the credit card company and you must pay it back with interest.