Dave's ESL Cafe's Student Discussion Forums

missdaredevil · Joined: 08 Dec 2004 Posts: 1670 Location: Ask me

*Debit card* giveaway goes awry in Houston
What is that kind of card for?

Thanks

pugachevV · Joined: 16 Jan 2003 Posts: 2295

A debit card is issued by the bank to allow you to pay for items without having to carry cash.
You run your card through the scannner at the checkout, and the money is transferred directly from your account into the account of the store.

iitimone7 · Joined: 09 Aug 2005 Posts: 400 Location: Indiana, USA

msdaredevil, the debit card looks just like a credit card. iitimone7

Vin21 · Joined: 18 Jul 2005 Posts: 132

This debit card was said to be doled out by the Federal Emergency Management Agency worth $2,000 for helping victims of Hurricane Katrina.

advoca · Joined: 09 Oct 2003 Posts: 422 Location: Beijing

American Express is a debit card. It means you have to pay AMEX immediately in full when they bill you.

VISA, Mastercard, (and many others) are Credit Cards. When they bill you you for the cost of the purchase you have made you have the option to pay in full or pay in installments of your choosing. They charge you interest on the outstanding loan.

bud · Joined: 09 Mar 2003 Posts: 2111 Location: New Jersey, US

Yes, but even so AmEx is still a credit card. It's just that the terms are different from most other credit cards. You still spent on credit, although very short-term. You get a montly bill. You can choose not to pay it, although with severe consequences.

A debit card instantly withdraws the amount from your account that is connected to the card. Thus, you don't get a monthly bill with a debit card as you've already paid every time you made a purchase. You see the deductions on your bank statement.