When it comes to paying for purchases, the question arises: how do I know if my card is credit or debit? Come with us and we'll give you some tips on how to get out of this mess.
How do I know if my card is a credit or debit card?
What's the difference?
The card, regardless of which type you use, is very easy to use nowadays, after all, it takes up less space and optimizes the pace of payments.
Every card offers a debit card, so that customers can use the money they have inside the institution. Another option is the credit card, which is a form of payment by credit offered by the bank itself, and which can be paid for over the long term, rather than at the time of the desired purchase. Find out below how to tell if my card is a credit or debit card.
With both we can also make purchases online. The virtual shopping market is growing more and more every day, and the easiest way to make purchases over the internet is to use a virtual card, offered by most banks.
Here's how to tell if my card is a credit or debit card.
Debit card
The debit card is the most common form of payment we have today. This payment method uses the money you have in the bank, without the need to withdraw it.
Many banks offer a special credit option on their debit cards. The special credit condition is like an automatic loan that the bank offers you if you make a purchase on the debit option without having enough money on it. Be very careful with this option, as it tends to have higher interest rates than credit cards.
Credit card
Imagine you want to make a purchase, but at the moment you don't have enough money in your account to do so, and you don't want to use special credit either. It is for these situations that credit card puts himself to work.
With a credit card, you can make purchases both in cash and in installments. installmentsBut the advantage is that both are payments made with credits made available by the bank. These credits are paid out on a day determined by the customer and the bank.
In order for the bank to decide on the maximum amount you can spend on that card, they analyze your balance on the Serasa platform. Once this limit has been reached, it is not possible to make purchases that exceed this amount.
How do you tell the difference?
Having established the concepts of one and the other, how do I know if my card is a credit or debit card? There are a few ways we can differentiate between them quickly and easily.
Limit
As explained above, a credit card has a limit set by the bank that provides it.
The debit card does not have this limit, the amount can be spent in full depending on how much you have in your wallet. It is possible that the debit card shows a limit for special credit only.
Where the money comes from
The bank must grant a certain amount for the credit card to be used, which must be paid back after a certain period of time. rhythm.
The debit card is spent while it has a balance of money that is already yours; when it runs out, you don't need to pay it back, unless it's through special credit.
Payment method
The credit card offers great versatility in terms of payment, making it possible to pay for a purchase in cash or to pay in installments as many times as the shopkeeper wants.
The debit card doesn't have many alternatives; payments must always be made in cash, according to what the customer has in their account.
Bank account
In order to deposit money in the bank and acquire a debit card, you need to create an account with a chosen bank.
As for credit cards, some banks can give them to you without you having to set up a bank account.
Description on the card
Some cards may have their type described on the front, describing what they are used for, which can also be analyzed to find out which model they are. Some cards work as both credit and debit, and don't need such a description.
Previous purchases
You can obtain this information from previous purchases and receipts in which your card was used. In this case, you can also consult the bank's app.
Customer service
If even with this information you can't figure out which type your card is, another resource you can use is the customer service from your bank. The number can usually be found on the card itself.
You can also go to the physical institution, or directly to the correspondent bank's online page.
I hope I've been able to help you find out if your card is a credit or debit card.
