The fundamental difference between a debit card and a credit card is how each type draws money to complete a transaction. For example, regularly reviewing your checking account for debit card activity, inspecting credit card activity, checking your credit report, See note1 and reporting a lost card quickly to your bank. Built-in protections usually come with each type of card, but you can do your part to prevent confidential account information from being leaked to scammers and thieves. If someone has your account number, your identity and funds may be at risk. Whether you have a debit card, a credit card (or both), keep your cards safe. JCB (Japan Credit Bureau) started in Japan and is now a network option in more than 20 countries around the world. Interac is the leading network in Canada. See note1 You're familiar with these names: Mastercard®, Visa®, American Express® and Discover® are the four largest in the United States. For an online purchase, you enter the credit card or debit card number and other required details like the expiration date and security code.Ĭredit cards or debit cards are both associated to a payment processing network. For an in-person transaction, you tap using the contactless feature, insert the chip into the card reader or swipe. Most retail locations accept both types of cards, and you use them in the same way. Similarities with a credit card or debit card It's worth taking the time to review the differences between debit cards or credit cards, and whether you're helping yourself with your choices of what to carry in your wallet and what to use for different purchases. You're asked that question almost daily by people and machines everywhere from the grocery store to the gas pump.
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