electron card vs debit card
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what are the differences
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Spelling!Originally posted by lousyboiboi:what are the differences
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I think debit card is a term just like credit card. Electron maybe the brand name?
Credit card
Some of the brand are OCBC VISA, Citibank VISA, DBS Mastercard etc etc....
So going by that I deduce
Debit card
Some of the brand are UOB VISA Electron Card, OCBC Visa Electron Card, DBS MoneySmart Debit MasterCard etc etc....
So essentially electron is a debit card. The word electron is like a brand like Visa and Mastercard? -
You just have to figure out what debit and credit means.
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You just have to figure out what debit and credit means
Debit is essentially a NETS card just using signature instead of key in PIN. It follows the way credit card of signing. However, to have debit muz have account ready for deduction. So I see debit card as not so great only allow signature instead of PIN.
Credit is different. You actually ask the issuing bank to pay your bills first. Then the bank in turn ask you to pay them so credit card means can delay pay money first whereas debit is deduction of money is right on the spot.
Maybe young ppl like the feeling of signing instead of key in PIN? -
Originally posted by sohguanh:
Well, debit card can act as an ATM card too. They issue pin plus you can sign for the purchases.
[b]You just have to figure out what debit and credit means
Debit is essentially a NETS card just using signature instead of key in PIN. It follows the way credit card of signing. However, to have debit muz have account ready for deduction. So I see debit card as not so great only allow signature instead of PIN.
Credit is different. You actually ask the issuing bank to pay your bills first. Then the bank in turn ask you to pay them so credit card means can delay pay money first whereas debit is deduction of money is right on the spot.
Maybe young ppl like the feeling of signing instead of key in PIN? [/b] -
Imagine losing your debit card to theft, also right on the spot.
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I think debit card is a close substitute to those who cannot qualify for a credit card. Imagine criteria like annual income how much to how much. With debit card as long as account got money you can get one. Not only that you can practise your signature juz like credit card holder do. IMHO it is a good deal
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what about visa vs visa electron?
does visa merchants accept visa electron cards? and vice versa.
i heard electron cannot be used for online transaction. true?
(i am a card noob) -
Originally posted by sohguanh:
not related. electron card can be a debit card too.
[b]You just have to figure out what debit and credit means
Debit is essentially a NETS card just using signature instead of key in PIN. It follows the way credit card of signing. However, to have debit muz have account ready for deduction. So I see debit card as not so great only allow signature instead of PIN.
Credit is different. You actually ask the issuing bank to pay your bills first. Then the bank in turn ask you to pay them so credit card means can delay pay money first whereas debit is deduction of money is right on the spot.
Maybe young ppl like the feeling of signing instead of key in PIN? [/b] -
I don't like S.H.E.
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u're back!!Originally posted by 0ut of P0int:I don't like S.H.E.
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1e-
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not related. electron card can be a debit card too.
Dun get wat you mean but I think I can summarise it briefly.
debit card means muz have account with money inside so can deduct.
credit card means no need have account. the issuer bank pay for you first then later ask from you.
Short and sweet -
Credit card also can pay by nets leh.
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Credit card also can pay by nets leh.
That would be a very stupid way of using a credit card. The word credit means let other ppl pay on your behalf mah. If treat it as nets it defeats the purpose rite? Unless the reader spoilt then LL no choice else muz make full use of credit card credit features