The money that you use in your debit card account in the amount of your own money. But with your secured card, you can still use the bank’s money without using your own money when shopping and still be reduced promotional discount as usual. Many card holders that use credit card, unsecured cards, secured cards but they don’t know what is the difference among its? The following article will help you clear about the difference between the cards.
Credit cards accepted based on the card holder’s income or financial capacity equivalent (for example, with other credit card banks, savings certificates, with the / apartments, with parking, with life insurance…). Some banks only accept the income with a bank transfer, others also accept additional financial capacity replacement card receivables are unsecured. In general, that is a type of credit card that the limit based on some form of income or replacement income conditions which allow customers to spend the maximum credit, also known as a credit limit. Typically, customers have a certain number of days to repay the interest-free, and after this period, interest will begin to be calculated on the remaining amount in the card.
The card holder will be required to pay a minimal fee each month, usually equal to the percentage of total loans outstanding in the cards. Please try to pay all monthly invoices. Otherwise, your outstanding balance will accrue to the following month and total unpaid amounts will be charged interest according to the bank’s decision. A secured card is a credit card, but also have a limit, which is based on the amount the card holder deposit at the bank. Secured cards have advantages than unsecured cards that do not need to proof of income; it’s required only deposit amount. Procedures will be much simpler. And almost people can open without income.
What is the difference debit card and secured card? Basically to understand, secured card is a credit card, it will be different in that debit card. Money that you use a debit card account in the amount of your own. You can spend at the limit how much you have on your account. As for credit cards, you still have the money sent in the form of deposits in bank savings, but without using the amount that the bank will give you a credit limit based on the amount deposited in the bank. Basic understanding that is to ensure your card is still using the bank’s money without using your own money when shopping and still be reduced promotional discount as usual.