The Debit and Credit Comparison

While debit and credit cards look alike, the two are very different from one another. To clear things up, here are the details:

Debit Cards		Credit Cards
	Available to virtually all checking account holders, as well as many share draft, savings and other accounts.		Adults 18 years or older can build their credit by using a credit card.
	Draw money directly from your checking account, helping you keep track of your daily spending.		Purchases are charged against a pre-approved line of credit.
	No additional processing or future bill payments are required on your part, which means no interest payments.		Allows you the flexibility to make monthly payments for purchases over an extended time period.
	Offers two forms of security options: PIN-based and/or signature-based transactions.		Signature is the dominant form of transaction authorization in the U.S. However, some credit cards allow for PIN-based cash advances at ATMs.
	Debit cards are covered under the Electronic Fund Transfer Act, also known as "Regulation E."		Credit cards are covered under the Truth in Lending Act.
	More and more financial institutions are offering rewards for using your debit card.		Many credit card companies offer you rewards for making purchases with your card.