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Credit Cards vs Debit Cards, Credit Cards, Debit Cards, Bank's money…
Credit Cards vs Debit Cards
Credit Cards
Bank's money
Cash back
Can improve credit score
Purchase protection
Hotel status
Airline miles
Different point earning categories
Zero Fraud Liability
Increased purchasing power
Debit Cards
People's own money
Requires PIN code
Pay and forget about it
More conscious about spending
No risk of debt
Simpler
Accepted everywhere (some credit cards are not)
Easy access
ATM withdrawals with less or no fees
Bank's money vs People's money
Can improve credit score vs No risk of debt
Different point earning categories vs Simpler
Credit cards can earn different cash back or points on different purchases depending on the card. Many of those categories are everyday spending categories, which means people can earn cash back or points by just using their credit cards as if they were debit cards. However, debit cards do give people a good peace of mind whenever they don't have to worry about that.
In order for people to get good interest rates on loans or mortgages, they depend on their credit score. Debt is something that is better if it's avoided, but credit cards can improve credit scores and be used without paying any interests at the same time if they are paid off before they start creating interest.
Since credit cards use the bank's money instead of the people's money, they protect the cardholders. If a cardholder is victim of fraud, the bank will take care of the unauthorized purchase. On the other hand, if a user of a debit card is a victim of fraud, the process to get their money back in their account might be tedious and can take a lot longer.