Debit cards are linked to bank accounts allowing spending within available funds, while credit cards offer a line of credit for purchases beyond the current balance.
Debit cards allow the holder to transfer money electronically from their savings/checking account when making purchases, directly tied to the bank account. On the other hand, credit cards are not connected to a bank account but offer a line of credit from the issuer.
The biggest difference between the two is that a debit card only allows you to use money you have in the bank, ensuring you spend within your means, while a credit card enables you to make purchases beyond your current funds, resulting in borrowing from the issuing entity.
For example, if you have [tex]$100 in your account, a debit card would enable you to spend up to $[/tex]100, while a credit card may allow you to make purchases exceeding that amount, subject to repayment terms.
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