Debit cards and credit cards are very common in our lives. Many friends have debit cards and credit cards in their hands, but some friends still don’t know the difference between debit cards and credit cards. let's see.

Debit cards and credit cards are essentially different. Deposit cards are bank cards issued by banks to provide financial services to depositors, while credit cards are credit instruments issued by commercial banks to qualified users that can be overdrafted in advance. The difference between a debit card and a credit card is as follows:

1. Different nature: a debit card is a debit card, and a credit card is a credit card. The debit card must be the user's own money, and the user can perform a series of operations such as consumption and transfer. A credit card means you don’t have to put money on the card. You can use the bank's credit limit to swipe the card, then spend first and pay back later.

2. Different application conditions: The conditions for applying for a savings card are relatively simple. Under normal circumstances, as long as you are over 16 years old, you can bring your valid ID to a bank branch to apply for a savings card. However, there are many conditions for applying for a credit card. Applicants are required to be over 18 years old, have a stable job and income, provide relevant supporting documents, and have a good personal credit status before they have the opportunity to apply. After the applicant applies for a credit card from the bank, the bank will evaluate the applicant's comprehensive situation. Only after the bank's review and approval, the bank will issue a credit card to the applicant.

3. Different credit implications: Although debit cards can also be used for purchases, they use the cardholder’s own money, which is different with credit cards. Credit cards use funds provided by banks, and users need to repay on time after using the credit card. If we are overdue when using a credit card, the bank will upload the credit card overdue record to the central bank's credit reporting system, which will have a great impact on our future credit life.

4. Different fees: If the user only has one savings card in a bank, the card can waive annual fees and small account management fees. Credit card charges are related to the amount on the card. Usually the higher the amount, the higher the annual credit card fee. However, most banks offer this service with no annual fee or credit deduction.

The above is an introduction to the differences between debit cards and credit cards. Hope it helps everyone.

Combo Financial Corporation releases this information to disseminate more information. The content of this article is for reference only and does not constitute any decision-making advice for you. Related questions and answers: What is the difference between credit cards and debit cards? Legal analysis: 1. Different application methods: debit cards can open an account with your valid ID card. Credit cards generally require you to fill in a credit card application and submit relevant supporting documents: 2. Different functions: debit cards The main function is to store funds, and can transfer, withdraw cash, pay fees, etc. A credit card can handle all the functions of a savings card, and can also handle some of the functions of a savings card. The main function of a credit card is to make purchases and then settle with bank-related institutions: 3. Different classifications: Deposit cards can be divided into magnetic stripe savings cards and There are two types of cards: chip savings cards, and credit cards are divided into two types: credit cards and quasi-credit cards. Credit cards are generally credit cards: 4. Different conditions of use: Deposit cards cannot be overdrawn for consumption. You can spend money after making a deposit. Credit cards do not require a balance to be used for consumption. This means that after consumption is made in advance, the bank will conduct an accounting of the entire month's output next month and then settle the payment. 5. Differences in the card surface: Deposit cards (magnetic stripe cards) generally have no validity period, while chip cards display two dates; credit cards will display the validity period under the card number in the format of XX/XX (month/year). Debit cards generally have 19 digits; credit cards have 16 digits. Credit cards usually have a 7-digit number on the right side of the signature line on the back of the card; debit cards do not. 6. Application method: The threshold for applying for a credit card is relatively high, and the requirements for the cardholder's credit record, income level, repayment ability, personal situation, etc. are relatively high. The application result can only be obtained more than ten days after the application is submitted. There is almost no threshold for applying for a debit card. As long as you provide your identity document, you can complete the application and get the card in real time. 7. Impact on personal credit: Since the debit card does not have an overdraft function, every expenditure and consumption incurred through the debit card is your own money and has nothing to do with the bank. Credit cards are different. Each credit card has a billing date and a final repayment date every month. If the cardholder repays overdue, a bad credit record will be generated, which will affect the cardholder's future mortgage, car loan, and study abroad loan. Waiting to apply.