But you might have to pay a fee to the bank. Some banks and credit unions might let you sign up for “overdraft protection.” That means you can use your debit card even when you do not have enough money to pay for the things you are buying. That means your debit card will be “declined.” You will not be able to buy things. You might not have enough money in your checking account. What if I use all the money in my checking account? The thief can take all your money out of your bank account. Someone might steal your debit card number online.The law says you can lose only $50 if you report it right away. Someone might steal your credit card number online.It is easier to get your money back if you use a credit card. You might have a problem with something you buy online.But debit cards are not a good way to pay when you shop online.Ĭredit cards are safer to use when you buy things online: You can build a credit history using a credit card if you pay the whole bill every month when it is dueĬan I use my debit card to buy things online?.You can use a credit card as a safer way to pay for things online.You might pay extra money in interest if you don’t pay all of your credit card bill every month.You get a bill once a month for everything you buy with a credit card.You apply for a credit card at a bank or store.You do not build a credit history using a debit card.You can use a debit card at an ATM to get money from your checking account.You don’t pay extra money in interest when you pay with a debit card.Money comes out of your checking account when you pay with a debit card.You can get a debit card from the bank when you open a checking account. When you use a debit card, you are using money in your checking account to buy things. The credit card company will send you a bill every month for the money you borrowed to buy things. When you buy something with a credit card, you are borrowing money from the credit card company. How is a debit card different from a credit card? Your statement can help you track your spending and create a budget. who you wrote a check to and for how much.where you used the ATM, how much you withdrew, and what fees you paid.where you paid with your debit card and how much you spent. Your bank or credit union gives you a “statement” every month. How do I know where I used my debit card? When you pay with a debit card, the money comes out of your checking account immediately. You can use your debit card to buy things in a store.When you open a checking account at a bank or credit union, you usually get a debit card.Ī debit card lets you spend money from your checking account without writing a check. Do not keep it in your wallet or on your card. This is one way the bank tries to stop dishonest people from using your debit card to get your money. When you use your debit card, you need to enter your PIN on a keypad. You can change your PIN to a number you will remember. A bank or credit union gives you a PIN when you get a debit card. PIN stands for personal identification number. You also can get cash back when you use a debit card to buy something at a store.Ī “PIN” is a security code that belongs to you. You can use your debit card at an automated teller machine, or ATM, to get money from your checking account. Debit cards take money out of your checking account immediately.You just swipe the card and enter your PIN number on a key pad. You can use your debit card in most stores to pay for something. Debit cards let you buy things without carrying cash.Debit cards use money that is already in your checking account. Sometimes you will pay a fee to use the card.ĭebit cards look like credit cards. You get a debit card from your bank or credit union when you open a checking account.
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