Debit Card

Credit Card

1.      Debit card id equal to your account value.

2.      It is an Asset

3.    To use a debit card customer should have      sufficient balance in his / her bank account.  

4.      It is like a Prepaid system

5.     You cannot buy an item with price higher then your balance.

1.    When you use Credit Card. You are Actually borrowing money from bank/financial institution

2.     It is Liability

3.     To use a Credit card customer may not have sufficient balance.

4.     It is like a Postpaid system

5.    You can buy an item with price higher then your bank balance (upto your credit limit.)