Question:
what is the difference between debit and credit and which one do i use?
?
2010-08-14 16:02:30 UTC
my dad gave me his credit card and pin # to go shopping i dont know what to use debit or credit ? i dont want to ask my father becuase im afraid he might change his mind about letting me use his ccrdit card
Four answers:
Go with the flow
2010-08-14 16:08:50 UTC
If it has a pin number is purely a debit card from his checking account.



It is not a real credit card. It's just a debit card from a checking account.

Transactions can be done by saying credit or debit.

Say debit to save the merchant money -and by doing this, you won't have to show ID since you'll be typing in a secret pin.

So use debit whenever you can.

By saying credit - it takes it out of the checking and you have to sign for it.

When you sign for it, the cashier may ask to see your ID to verify the name matches.

If they give you any trouble - say you are an authorized user and that your last names match since you are the account holders daughter.



What does it say in the front of the card?

What is the bank name?

Is it Amex, Citi?

Do not type an account number when asking (hope you know that), but a bank name is ok.

/
Pearls Before Swine
2010-08-14 23:12:28 UTC
If they ask you "debit or credit?" when you use the card at the store, that doesn't necessarily mean you have a choice, it just means they're asking which kind of card it is.



When you use a debit card to buy something, the money is transferred out of the cardholder's bank account immediately. So if there's no money in the account, the charge won't go through.



On the other hand, when you use a credit card to buy something, what happens is that the cardholder now owes that amount of money to the bank that issued the card. The sooner the cardholder pays it back, the less interest they have to pay (interest is a fee that's a percentage of the money owed - banks charge it because they need to profit from lending out money).



Most cards are *only* debit or *only* credit; if you try to use it the wrong way it won't go through. But I guess there may be some cards that can do both; in that case you probably should ask you Dad which way he prefers (because it could make a difference in how much it'll cost him).



P.S. It's actually most likely that this is just an ATM card, because it has a PIN. If there is no Visa or Mastercard logo on it, then it's an ATM card. An ATM card works like a debit card, but you can only use it in person and only at stores that let you use ATM cards. For cards like this, they'll never ask if it's debit or credit, because there's no Visa or Mastercard logo.
Genuine Guidance
2010-08-14 23:47:05 UTC
Why would he change his mind? If you are young, you aren't supposed to just know how to work these things, your parents are supposed to teach you.



Anyways, if you use his PIN# when you run the card through the terminal, you will not have to sign or show ID. If you choose the credit option when running the card through the terminal, you may have to show ID and will have to sign for the purchase.



At some stores, your dads card will get an additional small charge (.50cents or a bit more) for running the card as a debit card.
Chris A
2010-08-14 23:39:02 UTC
If he gave you a credit card, it stands to reason that you should use credit.


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