109k views
4 votes
Why do you pay late fees with a credit card and not with a debit card?
Please answer ASAP!!

User AmalBit
by
4.5k points

2 Answers

4 votes

Answer:

you are barrowing money with a credit card but with a debit card it is coming strait out of your checking account.

Step-by-step explanation:

User Praveen Prasad
by
5.2k points
2 votes

Answer:

Debit card is direct charge to balance in your account. Credit card is a loan

Step-by-step explanation:

On a credit card, you are borrowing money. You keep a running balance and make a payment monthly. If you miss a monthly payment your credit agreement allows the bank to charge you a late fee. With a debit card, money is deducted from your bank account balance as you use it. So you don't have to worry about a monthly payment - or late fees, but you can be charged an overdraft fee if you overspend your balance.

User Sasonic
by
5.5k points