Differences Between Debit Card vs Credit Card, & Which One is Your Choice?

The upper-middle class people often make non-cash transactions, using cards and abandon the conventional habit of carrying cash in their wallets. The most common types of cards used are debit cards or credit cards.

A debit card according to Wikipedia’s definition is an electronic payment card issued by a bank. This plastic card, commonly called an ATM card because of its function that can be used to withdraw cash or transfer money at an ATM machine.

While credit cards are commonly referred to as debt cards because of their function that can be used to borrow money from the issuing bank with a certain limit and be paid before maturity. Payment can be in installments or in full. If you are late, there will be a penalty set by the issuing bank.

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