Talking about the differences between a debit card and credit card; there aren’t many to talk about except a few, but primary ones. So, let’s talk about them and understand the difference between the two plastic money product.

• Rewards/ Cashbacks and discounts: Using a credit card or a debit card for that matter, entitles you with various rewards, cash-backs, and discounts. However, the rewards, cashback etc. are limited in debit cards. But in credit card, the benefits are limitless.

• Boosts CIBIL score: Apart from offering extra rewards, a credit card helps you boost your CIBIL score. As a matter of fact, as per the experts, a credit card is one of the best ways to boost your credit score. However, in order to use a credit card for this purpose you need to manage it properly: pay bills on time, maintain a credit utilization ratio of 40% etc. Talking about a debit card, it doesn’t offer the same benefits.

• Accepted as a viable payment option worldwide: Talking about the usage, a credit card is mostly Master/VISA cards which are accepted worldwide for payment. However, there are debit cards which still do not provide the facility. Forget that, you can’t even conduct international payments using a RuPay debit card.

• Highest security standards: Last but not the least, credit cards come with the highest security features like card-fraud liability cover. The lending institution provides cover against fraudulent transactions and other cybercrimes. Talking about the debit card, you don’t get such security privileges in case of fraud.

On a concluding note, choose your credit card properly.