Credit And Debit What Is Difference

Will you please provide the information regarding the difference between credit and debit?

[Arun Vats]

The words debit and credit are both used differently depends on whether they are used in a accounting sense, or non-accounting sense.

In a non-accounting sense, "credit" is
money available to spend.
a sum of money placed into a bank account.
money available to borrow.

In a non-accounting sense, "debit" is:
a sum of money taken from a bank account.

Debit & Credit cards are terms used by the banking industry to market and identify each card.

From the cardholder's point of view, a credit card account usually contains a credit balance, a debit card account usually contains a debit balance.

A credit card is used to make a purchase by borrowing money.

A debit card is used to make a purchase with one's own money.

From the bank's point of view, A decrease to the bank's liability account is a debit.

Using a credit card causes a credit to a liability account in the bank.