While both credit cards and debit cards are used to pay for expenses that you make, there are some primary differences between them in the way they are used. These are as below:
Credit cards ‘lend’ you the money to make purchases or pay bills, which you have to repay within a stipulated time. Usage of debit cards are based on the cash that you have in your bank account, and cannot exceed this amount.
Since credit cards lend you the money, if you do not pay it back within the interest-free period, then you would be charged interest on it. Debit cards do not have this feature as the money used is drawn from your account.
Credit cards give you the facility to purchase or pay bills beyond your current financial capacity. You have a period of time in which to pay it back, or even convert larger spends into convenient EMIs.
Citi Credit Cards are designed to give you the advantage of interest-free charges and withdrawals (within a limited period), and the ease of EMI for urgent requirements. Browse through the customized range of Citi Credit Cards to select the one that is customized for your individual needs.