Debit Card Term

– debit cards are similar to credit cards, except that the funds are immediately withdrawn from the cardholder’s bank account. Credit card charges, on the other hand, are billed to the cardholder each month, and interest charges may be added. Also, a credit card holder need not pay the entire balance due each month, while with debit cards there is no balance to pay off, as the money comes directly out of the cardholder’s bank account.