{"id":611,"date":"2012-06-13T14:56:21","date_gmt":"2012-06-13T14:56:21","guid":{"rendered":"http:\/\/www.imoney.my\/?p=611"},"modified":"2016-05-06T10:31:47","modified_gmt":"2016-05-06T02:31:47","slug":"debit-card-vs-credit-card","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/debit-card-vs-credit-card","title":{"rendered":"Debit Card Versus Credit Card: Which Is Right For You?"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"\/articles\/wp-content\/uploads\/2013\/02\/Credit-cards-in-hands.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-3808\" alt=\"Credit card step by step guide\" src=\"\/articles\/wp-content\/uploads\/2013\/02\/Credit-cards-in-hands.jpg\" width=\"480\" height=\"321\" srcset=\"\/articles\/wp-content\/uploads\/2013\/02\/Credit-cards-in-hands.jpg 600w, \/articles\/wp-content\/uploads\/2013\/02\/Credit-cards-in-hands-300x200.jpg 300w, \/articles\/wp-content\/uploads\/2013\/02\/Credit-cards-in-hands-74x50.jpg 74w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/a><\/p>\n<p>Do you know the differences between a debit card and a credit card?<\/p>\n<p>There are many, but the main distinction is whether you \u201cpay now\u201d (debit) or you \u201cpay later\u201d (credit).<\/p>\n<p>Here&#8217;s how each card works.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Debit-card\"><\/span><a href=\"\/debit-card\/\" target=\"_blank\"><strong>Debit card<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It is linked to your savings or current account, and most of the ATM cards today also double as a debit card. Though you won&#8217;t fall into debt with a debit card, there are still various implications to using one.<\/p>\n<p>In a nutshell, a debit card:<\/p>\n<ul>\n<li>does not have a credit limit,<\/li>\n<li>takes funds directly from the bank account whenever the card is used to make payment, and<\/li>\n<li>does not allow payments exceeding the balance in the bank account.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Credit-card\"><\/span><a href=\"\/credit-card\/\" target=\"_blank\"><strong>Credit card<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It is a commonly used payment method by most working adult. It allows its users to make payments through credit with the bank.<\/p>\n<p>If not used wisely, it can lead to various money mismanagement problems and debts. A credit card:<\/p>\n<ul>\n<li>has a credit limit,<\/li>\n<li>allows its users to borrow money from the bank to make purchases,<\/li>\n<li>has an interest-free period of around 20 to 45 days for its users to clear their debt, and<\/li>\n<li>charges an interest for any outstanding balance after the said period.<\/li>\n<\/ul>\n<p>Unless you are a careful, diligent spender, these cards can be very expensive with interest charges and fees.<\/p>\n<p>On the other hand, because of the instant access to your bank account, fraud prevention is perhaps more important when you own a debit card. If it falls into the wrong hands, your bank account is at risk and could potentially be emptied.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Interested-to-learn-more-Find-out-what-are-the-advantages-and-disadvantages-of-credit-card-and-debit-card\"><\/span><strong>Interested to learn more? Find out what are the <a href=\"\/articles\/debit-card-vs-credit-card-2\/\" target=\"_blank\">advantages and disadvantages of credit card and debit card<\/a>.\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Want-to-get-a-plastic-Compare-all-the-credit-cards-available-in-Malaysia-on-our-credit-card-comparison-page-and-apply-for-the-best\"><\/span><strong>Want to get a plastic? Compare all the credit cards available in Malaysia on our <a href=\"https:\/\/www.imoney.my\/credit-card\/\" target=\"_blank\">credit card comparison page<\/a> and apply for the best.\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"http:\/\/offers.imoney.my\/campaign\/Petrol-Quiz?utm_source=article&amp;utm_medium=banner&amp;utm_campaign=debit-card-vs-credit-card\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13111\" alt=\"petrol-quiz-ads_600x300\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/petrol-quiz-ads_600x300.jpg\" width=\"600\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you know the differences between a debit card and a credit card? There are many, but the main distinction is whether you \u201cpay now\u201d (debit) or you \u201cpay later\u201d (credit). Here&#8217;s how each card works. Debit card It is linked to your savings or current account, and most of the ATM cards today also&#8230; <a class=\"view-article\" href=\"https:\/\/www.imoney.my\/articles\/debit-card-vs-credit-card\">View Article<\/a><\/p>\n","protected":false},"author":1,"featured_media":3808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,227],"tags":[305],"class_list":["post-611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cards","category-credit-card","tag-fb"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Debit Card Versus Credit Card: Which Is Right For You | iMoney<\/title>\n<meta name=\"description\" content=\"Credit card versus debit card. 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