Credit Card

Credit Card

Credit cARD?

i just recently opened a bnk account. and i added money to my savings account. so that money that i put in there can i still use it with my card if i was to go to a store or something? or can only take money out from the atm? another ? i wanna ask what is the diff. b/w credit and debit? thnx for the help

The money in your savings account would not be available while using your debit card making normal purchases unless you have selected an overdraft protection program and the funds are not available in your checking account. I highly recommend adding this to your account, in the event that you make a purchase that is greater than the amount available in your checking account, the bank will use money from your savings account to cover the purchase. This way you don't aquire all those overdraft fees or have bounced checks (while writing checks). Pay close attention to your funds! Alot of debit cards can also be used as a credit card. Its basically the same thing in this case, where in both cases the monies will be deducted from your checking account, debit takes the funds immediately while credit will take sometimes up to 4 days to completely withdraw. The difference between your debit card, and a credit card, would be that credit cards are an open balance of money availably ready to be lended from banks, purchases using a traditional credit card also incrue interest on the amount you spend. (you have to pay back more than you spend) Debit cards are attatched to your bank account and will just deduct money from your account to pay for the things you've purchased And though you didn't ask for it... After you've accrued a larger sum of money in your savings account, speak to your local financial director and check into special savings account that give you back more money for allowing the bank to use it, such as locked savings accounts and bonds!