Credit And Debit Cards

Debit card

Credit card

A debit card is a card with

money on it that you own in the bank.

A debit card is a plastic

card that is used as

a payment method

when buying things.

It is similar to a credit

card,but unlike a credit

card but you do not borrow

money.

A credit card works by you spending money that you have borrowed from the bank

You then repay the money back with interest, this could be 7 or up to 15% of original money borrowed.

As November 2019

credit card payments in the UK were valued

at more than £16 billion