What is a credit card and how is it different from a debit card? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is a credit card and how is it different from a debit card?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A credit card is a credit limit (a small loan) that the bank grants you so you can buy now and pay later within a grace period without interest.

A direct debit card, on the other hand, takes the money immediately out of the actual balance in your bank account.

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