CREDIT CARDS, CHARGE CARDS & DEBIT CARDS

CREDIT CARDS-The issuing Bank will pay on your behalf first and bill you later. There is no such thing as " free for life". When you pay the minimum amount you are liable to finance charges.Late payment charges are another thing.

CHARGE CARDS- when you swipe your card, you must pay the FULL AMOUNT when the Bank bills you otherwise there will be a high Late Payment Interest.

DEBIT CARDS-  when you swipe this card, it automatically deducts from your Bank Account.Rather than withdrawing cash at an ATM and paying for stuff, you just dont have to carry the required cash.     Good Luck.