Anonymous
Anonymous asked in Business & FinanceCredit · 1 month ago

What is difference choosing credit or using PIN on a debit card?

3 Answers

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  • 1 month ago

    The fees that the merchant pays to the bank are different.

    For you, there isn't always any difference.

  • Anonymous
    1 month ago

    My bank allows 2) debit transactions a month free but charge $ .50 each for anything after that.  Having vendors run the debit card as a credit avoids those fees.   

    Watch the "Fee" section of your bank statements, they hide it in there!

  • Anonymous
    1 month ago

    The former usually requires your signature.   The latter requires you to enter you PIN.

    The merchant is charged differently to process each of these transactions.

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