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What Is The Difference Between Bank Cards?

When you open an account in a bank, you get a few cards for transactions and withdrawing money. The two most common cards are debit and credit cards, and people are extremely confused about them.

It is your debit card that is generally used for withdrawing money, but as far as the BIN number is concerned, it is usually on both of the cards, because both these cards are used for checking the affiliation with the bank. The BIN checker database is available for several merchants and traders to review and align their machines with the bank’s details.

The retailers are more conscious when they see a customer having plastic money. It is generally assumed that paying with plastic is quite easy, then paying when you have cash, and people tend to pay more with plastic money. That is why there are several perks in the forms of offers and discounts. The only prerequisite for availing all those offers is to pay the bills on time.

Credit cards

Banks usually issue a credit card, but nowadays, many other financial institutions are also offering credit cards that function as post-paid cards. For those who do not know about the functioning of a credit card, should try to understand the functioning of post-paid mobile phone cards. Just like your mobile phone bill, you will receive an invoice for your credit cards after every fixed period.

As the name implies, credit cards are used for taking a loan from the bank and then paying back the money with interest. That is why those who are unable to pay interest should not use credit cards. There are several other types of credit cards.

For example, the most common one is the standard credit cards that come with an extension in credit limit. That means that sometimes the buyers can purchase items for extended relief. Sometimes these credit cards are gift cars that companies offer to their regular customers and employees. They are designed for travel and official works.

Many companies and banks tend to give extra perks to the credit card holders that are usually not available for those who do not use credit cards. With credit cards, you can keep a check on your spending.

Debit card

If you have a checking account, then you need a debit card to deduct money from your bank account directly. Debit cards are more suitable for those who are not very rich and think that paying interest in the return of loans would be unaffordable.

Moreover, credit cards do not come with any extra fees. Like credit cards, there are a few types of debit cards as well. For a mediocre, the best one would be the prepaid debit card. First, you will have to load money on the card; then, you can spend as much as you want but in that limit. This way, you may secure a few money in your bank account.

Both debit cards and credit cards are the need of the time. They cannot be ignored when you cannot carry a lot of money because of security reasons. However, paying bills on time is essential for proper usage.

Ann Castro
Ann Castro
Ann Castro is a lead author at Techicy who writes on Technology, Home Improvement, and Businesses around the world. With a background in Journalism, Ann has a professional experience of more than seven years working with some of the big media companies. She is also an avid traveler, a singer, and a guitarist.


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