ELI5 Credit vs Debit Cards - what’s the difference?

ELI5 Explain Like I'm 5: Bite sized answers to stuff you should know about - in a mini podcast

What is the difference between swiping my bank card as a credit vs. a debit? Why do you need to use credit to get rewards points?  What role does Visa and Mastercard play in the process?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: bringer_of_words, tehwildman_, herohas, niuniu1218, civil_politics, goldzatfig, londonpilot and loodog

To the ELI5 community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter:

https://www.twitter.com/eli5ThePodcast/

or send us an e-mail:

ELI5ThePodcast@gmail.com

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What is the difference between swiping my bank card as a credit vs. a debit? Why do you need to use credit to get rewards points?  What role does Visa and Mastercard play in the process?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: bringer_of_words, tehwildman_, herohas, niuniu1218, civil_politics, goldzatfig, londonpilot and loodog

To the ELI5 community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter:

https://www.twitter.com/eli5ThePodcast/

or send us an e-mail:

ELI5ThePodcast@gmail.com

2022-12-09 7 min
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