Credit Cards and Debit Cards... At a Glance

	Credit Cards	Debit Cards
Payments	Buy now, pay later.	Buy now, pay now.
Interest Charges	Yes if you carry a balance or your card offers no "grace period."	No.
Other Potential Benefits	Freebies, such as cash rebates and bonus points good for travel deals. Some purchase protections.	Easier and faster than writing a check. Avoid debt problems. More cards now offering freebies. Some purchase protections.
Other Potential Concerns	Fees and penalties. Also, not all cards offer grace periods (time to repay without incurring interest). Over-spending can cause debt problems.	Fees on certain transactions. You may overdraw your account if you're lax about recording debit card transactions.