Why do credit cards get a cash advance on them and debit cards do not?
Question:
Answer:
Because credit cards are advanced money, and debit cards are only as valuable as how much money you currently have.
Because debit cards do not work with credit. Debit cards are just like checks.
credit u pay back later and debit comes from ur account now
with a debit card the money is already yours, with a credit card youare "borrowing" the money therefore, have to pay interest,
National city does .. time for a new bank huh
Because a credit card is technically a loan, while a debit card pulls the money immediately from your checking account.
because the credit card wants to charge exorbitant amounts of interest on you...and debit cards do have cash advances through the banks called loans.
debt cards do have a cash advance on them. U can go to any atm and withdrawl money out of your account.
Because credit cards are lines of credit you're allowed to use. A debit card is straight from your checking account. You can use a debit card as credit in some stores, but it only means the purchase is covered by the credit card security. Not by a line of credit.. did that make any sense?
because credit cards loan you money and
debit cards use money out of your account
Hmmm?
Credit
Debit
http://www.m-w.com/
Because with a credit card, you are purchasing items with borrowed money (on "credit"), therefore they will advance you money. A debit card takes money out of your own checking or savings account, therefore you can't borrow money you don't already have in the account.
On a credit card you have to pay the balance back plus interest. The money isn't yours, it belongs to a bank. So it is beneficial for banks to loan you money you don't really need. (That's how they make their money.)
A debit card is your money. So unless you give yourself your own cash advance ..
For a credit card you promise to pay the money they give you... for a debit card, its is just taken away from your bank account. Basically, they are two different types of accounts and services.
More Related Questions & Answers...