Merrimack Valley CU
Auto & Personal Mortgage & Home Equity Undergraduate, Graduate, & Refi Commercial Loans & Lines Former RTN Members

Online Banking

Forgot Username?

Forgot Password?'; } ?>

Register

Need Help?

Online Banking

Forgot Username?

Forgot Password?

Register

Need Help?

Home / What is the difference between a Credit Card and a Debit Card?

What is the difference between a Credit Card and a Debit Card?

A debit card draws from money you have available in your checking account. When you use your debit card, funds are immediately withdrawn from your checking account. Our members will receive a free debit card upon opening any one of our checking accounts.

When you use a credit card, you are borrowing money from a finite line of credit offered by a financial institution, depending on your credit limit. Each month you will receive a statement specifying your purchase amounts and details, as well as the minimum payment due. If you do not pay off your credit card in full each month you will be charged interest on the money you owe.

Choosing the right credit card is easier than ever. No matter which card you choose, you’ll enjoy important features like EMV smart chip technology, mobile purchasing capability, Apple Pay and Android Pay, plus much more!  Learn more!

This answer has been viewed 412 times.



Related Questions