A credit card allows you to make a purchase by charging it to an account on which payment will be made sometime in the future. A debit card purchase immediately removes the amount of the purchase from your checking account. Using a debit card requires entering a Personal Identification Number (PIN) to complete the transaction. A PIN number should be protected and should not be written down anywhere that would make it easy to steal or use without your permission. Many people use debit cards in place of writing checks. Debit transactions should be recorded in the check register just as if you had written a check.
We would like your feedback on this Personal Finance Frequently Asked Question.
