.................DOC-20241014-WA0021..pptx

.

1. GENERIC SKILL ASSIGNMENT BANKING AND FINANCIAL SERVICES

2. INTRODUCTION Definition of debit and credit cards.Popularity and usage worldwide.Basic purpose: convenience in transactions.

3. DEBIT CARDS Linked directly to a bank account.Funds are deducted immediately from the balance.Cannot spend more than what is in the account (unless overdraft is allowed).

4. CREDIT CARD A card that allows you to borrow money for purchases .You repay the borrowed amount later, often with interest.

5. How they work Debit Card : Uses the money you already have. Credit Card : Uses borrowed money that you have to repay.

6. SPENDING CONTROL Debit Card: You can only spend what’s in your account. Credit Card: Easier to overspend since you are borrowing.

7. FEES AND CHARGES Debit Card: No interest, but may have ATM or overdraft fees. Credit Card: Can charge interest, annual fees, and late fees.

8. CONCLUSION Debit Card: Good for controlling spending and avoiding debt Credit Card: Great for earning rewards and building credit, but be careful with spending .

9. THANK YOU