What Is The Implication Of Paying By A Credit Card Vis-A-Vis Debit Card

In case of a credit card the main charges are interest charges to be paid for not paying the amount on time. In case the amount is paid by the due date there is no expense for the cardholder. In this case, he/she is using the amount of funds provided by the bank for a certain period of time without any cost. In case of a debit card, a person uses his/her own money and obviously there is no interest to be paid here. If there is adequate fund available with a person and he/she does not want to run the risk of missing the payment then the use of a debit card is preferable. On the other hand, when funds are not present immediately and still the individual wants to use money for making expenses then he/she can use credit cards. In effect a person can use both debit and credit cards to meet his/her specific requirements. It need not always be a decision of using just one type of card under all circumstances.