What Is the Difference in a Visa Debit & Credit Card?
There are several significant differences between Visa debit and credit cards. However, in almost all cases, they can both be used in person and online to make purchases from retailers that accept Visa cards. In addition, Visa cards are among the most widely accepted credit cards in the world, making use of a Visa debit or credit card ideal when traveling within the United States or overseas.
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Primary Difference
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The primary difference between a Visa debit and a Visa credit card is where the funds come from. Debit cards pull purchases out of your checking account, while a Visa credit card allows you to borrow money up to a pre-determined credit limit and then pay it back over time.
Consumer Protection
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Visa debit cards offer limited consumer protection in the event of inferior goods or even theft, as it draws from a bank's money. Visa credit cards offer more insurance in the event the consumer is dissatisfied with a purchase or unauthorized charges are made.
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Gas Authorizations
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It is a better idea to use a Visa credit card at a gas pump over a Visa debit card. This is because most gas stations will hold as much as $100 authorization, which could tie up your checking account funds.
Car Rentals
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Most car rental companies will not accept Visa debit cards to guarantee a rental, choosing to only accept credit cards.
ATM Transactions
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All Visa debit cards can be used to withdraw money from an ATM. However, some Visa credit card issuers will not allow customers to withdraw cash using their accounts.
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