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Credit card vs. debit card
Digitalab 9 J.
Debit card: money is debited from your account immediately. Credit card: money is only debited at the end of the month (an interest-free loan for up to 30 days).
Two types of card, fundamentally different:
Debit card (girocard/EC card):
• Money is debited from your current account immediately
• You can only spend what's in the account
• Included free with your current account
• Often of limited use abroad
Credit card (Visa, Mastercard):
• Payments are collected and debited once a month
• Up to 30 days of interest-free credit
• Accepted worldwide (hotels, car hire, online)
• Often an annual fee (€0–100)
• Warning: never use partial repayment – interest of 15–20%!
Did you know? In Germany only about 6% of all payments are made by credit card – in the USA more than 40%. The German girocard dominates with more than 50% market share.
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