Debit and Credit
A debit card is just like cash except it is
more convenient. When you use a debit
card, the money is automatically and
immediately transferred out of your bank
account, just as if you withdrew it as cash.
A credit card lets you use credit—a loan—
to buy now and pay later. Every time you
use a credit card, you are borrowing
money from the business that issued the
card, such as the bank, store, or credit
card company. The business pays for the
purchase, and then you repay the business
by paying your credit card bill.