In today’s world, almost everyone has a credit and a debit card which they use to manage the expenses incurred in daily life. However, there are people who forget about the important differences between the two plastic money products and end up committing poor financial mistakes. Thus, to help you avoid such financial mistakes in your case, here are the primary differences between credit cards and debit cards.

1. Available funds: Debit cards are linked with the cardholders bank account and thus, the card can only access the funds available in the account. On the contrary, credit cards simply offer unsecured loans which can be paid back before the due date to avoid interest charges. Apart from that, the credit cards come with a predefined credit limit and you can avail finance up to that specified amount.
   
   
2. EMI facility: The credit cards let you shop products on easy EMI whether you are buying the product online or offline. However, debit cards rarely offer such facilities to the card owners.
   
   
3. Repayment method: Talking about the repayment method, since debit cards are connected with your bank account containing your own money, you don’t have to repay anything. However, you must maintain a minimum balance at all times. However, since credit cards are a type of loan, you’ll have to repay the consumed amount before the due date to avoid any interest charges.
   
   
4. Fraud liability: Talking about debit cards, you are likely to get nothing in the name of fraud liability. However, credit cards come with the highest levels of fraud liability and insurance cover in case of any misuse.