What is a debit card?
The Bankrate.com financial term of the day is: "Debit card."
A debit card is a very valuable piece of plastic. It's a kind of key that opens your bank account and removes the money when you buy something. There are direct debit cards that require you to enter a personal identification number, or PIN, at the point of sale to release the purchase amount from your checking account almost immediately. There are also signature-based, or deferred, debit cards that require you to sign your name. With these cards, the money to make the purchase is removed from your account in two or three days.
A debit card is a good choice if you want to go shopping without having to carry around a lot of cash and without the risk of credit card debt.
To find the best checking account, visit the checking and savings section at Bankrate.com.
Think your holiday gift list might break your budget? Consider one of these items on sale this month.
Before you take off, land the best deal on your airfare.
Follow these expert tips to save on gift wrapping without breaking the bank.
Bankrate hits the street to find out how consumers feel about Black Friday.
More than one-third of Americans polled say their top financial priority is staying on top of their bills.
Follow this 6-month homeowner countdown so you are ready come closing day.
Shopping for insurance? Follow these tips from top experts in the insurance field.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
A little research could save you BIG on interest.