What is debt card?

A debt card is a plastic payment card that allows the cardholder to make purchases or withdraw cash from their checking account. It is also called a bank card or a check card. Unlike a credit card, a debt card does not require the holder to borrow money, but instead enables the cardholder to access their own money stored in their checking account. It can be used at ATMs and merchant point-of-sale terminals wherever the card network (e.g. Visa, Mastercard, etc.) is accepted. Debt cards are convenient for making purchases and withdrawing cash without having to carry cash. They also provide a way to monitor spending and track expenses, as transactions are recorded in account statements. However, unlike a credit card, they do not offer rewards or cashback programs, and overdrafts can incur fees.