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OfflineMighty Bop
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What's the Difference Between Credit and Debit?
    #4480501 - 08/01/05 12:34 PM (11 years, 4 months ago)

At the gas pump, convenience stores and even at the post office like today, you have the option of choosing credit or debit when using your Visa check card. I know at the grocery store you can get cash back if you use a check card. Besides that, what good is having this option at the gas pump or the post office? Am I missing something here? I've never been able to figure it out....


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"One attaineth whatever state of being one thinketh about at the last when relinquishing the body, being ever absorbed in the thought thereof." - Sri Krishna to Arjuna, Bhagavad Gita, viii, 6


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InvisibleRapmaster
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480502 - 08/01/05 12:36 PM (11 years, 4 months ago)

Credit card is put onto a running bill that you have to pay at hte end of a billing period. Debit cards run it out of your checking account.


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InvisibleInsatiableThirst
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480504 - 08/01/05 12:37 PM (11 years, 4 months ago)

One is put on your credit card.. and debit means that it's taken from your account. Some credit cards can be used as debit cards. At least that's how I understood it. I have a Visa that is like that. Either that, or they're just simply asking if you are going to be paying with debit card or credit card.


--------------------

Sometimes we let the preoccupations of this cruel world get the best of us and we lose track of the things that really matter.

If you don't risk anything, you risk even more.


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Invisiblebuckwheat
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480516 - 08/01/05 12:43 PM (11 years, 4 months ago)

debit= smart

credit= pwned by the bank


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OfflineMighty Bop
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Registered: 06/30/01
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Re: What's the Difference Between Credit and Debit? [Re: Rapmaster]
    #4480519 - 08/01/05 12:45 PM (11 years, 4 months ago)

Quote:

Rapmaster said:
Credit card is put onto a running bill that you have to pay at hte end of a billing period. Debit cards run it out of your checking account.




I know the difference between the two, I'm talking about the difference in what answer you give to the clerk or choose at the gas pump. With my debit card, I can go either way. I guess if I had a credit card there is only one option. I guess the thing I want to know is, if I am using a debit card with the visa logo, does it matter which way I say I am using it?


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"One attaineth whatever state of being one thinketh about at the last when relinquishing the body, being ever absorbed in the thought thereof." - Sri Krishna to Arjuna, Bhagavad Gita, viii, 6


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OfflineMighty Bop
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Re: What's the Difference Between Credit and Debit? [Re: buckwheat]
    #4480522 - 08/01/05 12:46 PM (11 years, 4 months ago)

Quote:

mindcandy said:
debit= smart

credit= pwned by the bank




Yeah I definitely got pwned by the bank many times....


--------------------
"One attaineth whatever state of being one thinketh about at the last when relinquishing the body, being ever absorbed in the thought thereof." - Sri Krishna to Arjuna, Bhagavad Gita, viii, 6


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InvisibleInsatiableThirst
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480529 - 08/01/05 12:49 PM (11 years, 4 months ago)

As I said, if it's a debit card with the credit card logo on it, you can use it either as a debit and have the money come out of your account as it would using a normal debit card, or you can use it as a credit and get billed later for the purchase, which means it doesn't automatically come out of your account right then.


--------------------

Sometimes we let the preoccupations of this cruel world get the best of us and we lose track of the things that really matter.

If you don't risk anything, you risk even more.


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Invisiblebuckwheat
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480534 - 08/01/05 12:51 PM (11 years, 4 months ago)

the american dream will be the end of us


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OfflineMighty Bop
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Re: What's the Difference Between Credit and Debit? [Re: InsatiableThirst]
    #4480541 - 08/01/05 12:53 PM (11 years, 4 months ago)

Quote:

InsatiableThirst said:
As I said, if it's a debit card with the credit card logo on it, you can use it either as a debit and have the money come out of your account as it would using a normal debit card, or you can use it as a credit and get billed later for the purchase, which means it doesn't automatically come out of your account right then.




So basically it is a time issue. I get it. I guess that might be helpful to me someday. Thanks :smile:


--------------------
"One attaineth whatever state of being one thinketh about at the last when relinquishing the body, being ever absorbed in the thought thereof." - Sri Krishna to Arjuna, Bhagavad Gita, viii, 6


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InvisibleInsatiableThirst
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480547 - 08/01/05 12:56 PM (11 years, 4 months ago)

heh Your welcome. I believe that's what it is. I have a cc like that.


--------------------

Sometimes we let the preoccupations of this cruel world get the best of us and we lose track of the things that really matter.

If you don't risk anything, you risk even more.


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InvisibleShroomismM
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480555 - 08/01/05 12:59 PM (11 years, 4 months ago)

You pay interest on the credit
Debit comes direct from your account, so if you go over your limit, no go. Safer.
Credit cards.. will try to rape you. That's the long and the short anyway.


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OfflineMighty Bop
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Re: What's the Difference Between Credit and Debit? [Re: InsatiableThirst]
    #4480557 - 08/01/05 12:59 PM (11 years, 4 months ago)

Now I just have to decide which takes less effort: punching in my PIN or signing the credit card thing......


--------------------
"One attaineth whatever state of being one thinketh about at the last when relinquishing the body, being ever absorbed in the thought thereof." - Sri Krishna to Arjuna, Bhagavad Gita, viii, 6


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InvisibleShroomismM
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480558 - 08/01/05 01:00 PM (11 years, 4 months ago)

PIN


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InvisibleCowgold
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Re: What's the Difference Between Credit and Debit? [Re: Shroomism]
    #4480569 - 08/01/05 01:03 PM (11 years, 4 months ago)

I do the credit on gas when it's close to payday and I'm broke


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"You might not be aware of this, but there are a lot of dickheads on the Internet." - D. Wong


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Invisibledr_gonz
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Re: What's the Difference Between Credit and Debit? [Re: Cowgold]
    #4480609 - 08/01/05 01:17 PM (11 years, 4 months ago)

Let me also bring up another point. Let's use the gas station as an example. If you choose "debit" at the pump, it will deduct that purchase from your checking account. However, it will also deduct a POS fee which is usually in the range of $.50. If you choose "credit" and swipe your debit card you can avoid the POS fee.


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Offlinebaraka
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Re: What's the Difference Between Credit and Debit? [Re: dr_gonz]
    #4480666 - 08/01/05 01:31 PM (11 years, 4 months ago)

People fuck themselves with credit cards. If you are smart about your spending get a credit card with good return stuff. Like on mine i have a speedway card and all the money i spend i get 1% back and at speedway i get like 5% back or somthing. Its nice.

JUST DONT SPEND MORE THEN WHAT YOU CANT PAY OFF AT THE END OF THE MONTH or the bank will definatly pwn you.


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This is the only time I really feel alive.


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OfflineRonoS
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480675 - 08/01/05 01:35 PM (11 years, 4 months ago)

Quote:

What's the Difference Between Credit and Debit?




To put it simply...Credit is when you are spending someone elses money with the promise to pay it back (Credit card)...Debit is when you are spending your own money (Bank Card)


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"Life has never been weird enough for my liking"


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InvisibleLiz
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480692 - 08/01/05 01:40 PM (11 years, 4 months ago)

if you use your debit card as a credit card, with a visa or mastercard logo on it, you don't get charged interest to your checking account. you don't get billed at the end of the month. either way, the same amount gets taken out of your checking account. if you do "credit" instead of debit, it sometimes takes a few days to come out of your account, where if you choose debit and type your pin in, it comes out immediately.


--------------------
Remember, remember the fifth of November
The gunpowder treason and plot.
I see no reason why gunpowder treason
Should ever be forgot.




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Invisibleafoaf
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Re: What's the Difference Between Credit and Debit? [Re: Mighty Bop]
    #4480716 - 08/01/05 01:49 PM (11 years, 4 months ago)

the thing with the visa debit cards is that you can use your
ATM card more like a credit card.

in this scenario, the money still comes from your checking
account instead of a line of credit, but, unlike a debit card
who's transactions are immediately posted, the credit card
charges tend to post in a delayed fashion...which is the only
bad thing about them that I can see. And even then, it's
only really a problem if you don't kepe proper tabs on your
balance.

Stay away from credit cards as much as possible. Maybe
put one or two big purchases on them occassionally BUT
PAY THEM OFF IMMEDIATELY. This way you build credit but
don't incur all the interest charges and shit.


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All I know is The Growery is a place where losers who get banned here go.


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OfflineQuantumMeltdown
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Re: What's the Difference Between Credit and Debit? [Re: afoaf]
    #4480747 - 08/01/05 02:00 PM (11 years, 4 months ago)

Using a debit card with a visa or mastercard logo as credit also builds your credit like using a real credit card would. Debit doesn't do that.


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-QuantumMeltdown

Total abstinence is so excellent a thing that it cannot be carried to too great an extent. In my passion for it I even carry it so far as to totally abstain from total abstinence itself.
  -Mark Twain

"The time has come the walrus said, little oysters  hide their heads, my Twain of thought is loosely bound I guess its time to Mark this down, Be good and you will be lonesome
Be lonesome and you will be free
Live a lie and you will live to regret it
That's what livin' is to me
That's what livin' is to me"
Jimmy Buffett


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