BankingWiki

  PAYING FOR PURCHASES   with a credit card can offer many advantages if you can commit to spending only what you can successfully pay off in full each month. In fact, many of the advantages credit cards provide can save you money in the long run. Some common advantages of having a credit card include: Paying for purchases over time Convenience Credit card rewards Fraud protection Free credit scores Price protection Purchase protection Return protection Extended warranty coverage Travel benefits   Paying for purchases over time.   Credit cards give you the ability to pay for a purchase using your card today and pay off your credit card balance on a future date. Most issuers offer a grace period where you don't have to pay any interest charges. Typically, this grace period lasts from the date you make your purchase through the end of the billing cycle during which the purchase was made and ends when your payment is due. However, if you're carrying a balance on your credit card

  Credit Cards vs. Debit Cards: An Overview Credit cards   and   debit cards   typically look almost identical, with 16-digit card numbers, expiration dates, and personal identification number (PIN) codes. But that is where the similarity ends. Debit cards allow bank customers to spend money by   drawing on funds   they have deposited at the bank. Credit cards allow consumers to borrow money from the card issuer up to a certain limit in order to purchase items or withdraw cash.    You probably have at least one credit card and one debit card in your wallet. The convenience and protection they offer are hard to beat, but   they have important differences   that could substantially affect your pocketbook. Here is how to choose which to use when you need to swipe the plastic. KEY TAKEAWAYS Credit cards give you access to a line of debt issued by a bank. Debit cards deduct money directly from your bank account. Credit cards offer better consumer protection through warranties and fraud pro