Can I use my Debit Card as a Credit Card?

Question

Okay, I want to use my Debit Card as a Credit Card, but when they ask me at stores "Debit or Credit?" and I say "Credit" it always comes out of my bank account as debit. Can you really use a Debit Card for Credit or is it just a big gimmick?

Answer 1

Debit cards will always take money from your bank account. The terminology is confusing. Debit or credit refers to the transaction processing. A debit transaction requires a PIN and comes immediately from your bank account. A credit transaction requires a signature and is process thru a merchant card service, which may take a couple of days to hit your bank account.



You have to credit card for an actual extension of credit.

Answer 2

You can run a Debit Card AS "Credit" but it is not a Credit Card. The end result is the same, the money comes out of your Checking Account. It is just how it gets taken out that is different between the two.



If you select Debit it uses a system to access your Checking Account through an ATM network, which is why you need your PIN Number. If you select Credit it uses the same Credit Card processing network that it would for a regular credit card. Which is why you don't need your PIN and just use your signature.



The "gimmick" for the Debit Card is that you can use it at any place that VISA/MC(what ever type your Debit Card is) is accepted.

Answer 3

Using a debit card as credit is only a way of not having to use your PIN. It will still come directly out of your account. There is no way to use a debit card as a charge card where you make monthly payments. If you want to do that, you need to get a credit card.

Answer 4

Debit or Credit only applies to how the transaction is processed from the merchant's stand point. When it gets to the bank, it's still a debit transaction.



Some merchants are not set up to accept debit cards so the credit option allows them to accept the card anyway. That's all.

Answer 5

Debit cards backed by any major credit card company, such as Visa or Mastercard, can always be charged like a credit card at any retailer that accepts them.



This doesn't mean that you'll be given any "credit" to make the purchase, as it will automatically deduct the amount spent from your bank account after a few days. Any overdrafts to your checking account that's used by your debit card will still apply.



Depending on your bank, your statement will still list the purchase as a 'debit' even if you charge your card in the store as a credit card.