Debit cards and credit cards: Whatís the difference?

Debit cards and credit cards: Whatís the difference? (1 min 48 s)

Added on July 10, 2019

Description
In Canada, there are 2 types of cards you can use to make purchases: debit cards and credit cards.

  

Debit cards and credit cards: Whatís the difference? (1 min 48 s)

Added on July 10, 2019 | Desjardins Group

Note: The information in brackets describes the visual and audio content of the video, and the rest of the text corresponds to the dialogue.

[Background music]

[A Canadian flag moves in the wind.]

[Text on the screen: In Canada, two kinds of payment cards are used]

[Two cards appear: one is a debit card and the other is a credit card.]

[Text on the screen: Debit cards and credit cards]

[Text on the screen: Whatís the difference?]

[Text on the screen: Debit card]

[Both cards (debit and credit) are shown. The credit card exits the screen, leaving only the debit card. A desk and two chairs appear. On the desk, there is a sheet of paper and a computer screen, both showing graphs and data.]

[Text on the screen: You get a debit card for free when you open a bank account]

[The debit card reappears.]

[Text on the screen: It takes the money out immediately]

[Coins fall into the debit card, and out of it pop up a box with a game console controller, a steaming cup of coffee and a shopping bag.]

[Text on the screen: So you have to have the funds in order to use it]

[The items on the card disappear, leaving just the debit card.]

[Text on the screen: You can use it to]

[Out of the debit card pop up a box with shoes on top and two shopping bags.]

[Text on the screen: make purchases at retailers]

[An ATM slot appears. The debit card goes in, and money comes out.]

[Text on the screen: withdraw money from the ATM]

[A cellphone appears with a Desjardins logo and a connect button on the screen.]

[Text on the screen: log in to your financial institution]

[Text on the screen: Credit card]

[An envelope appears and a credit card comes out of it.]

[Text on the screen: To get a credit card, you have to apply for one]

[The envelope disappears, leaving only the credit card.]

[Text on the screen: Sometimes itís free and sometimes thereís a fee, depending on the card you choose]

[Text on the screen: It doesnít debit your account immediately]

[Out of the credit card pops up a gift box with a bow and a tag with a percentage sign on it.]

[Text on the screen: Your financial institution advances you the money for your purchase]

[Coins fall into the credit card.]

[Text on the screen: and you pay it back later]

[A calendar appears on top of the credit card showing the date as the 21st.]

[Text on the screen: If you pay off your balance in full before the end of the billing cycle]

[A percentage sign appears on top of the credit card.]

[Text on the screen: You wonít have to pay any fees]

[Out of the credit card pop up a box with shoes on top and two shopping bags.]

[Text on the screen: You can use a credit card to make purchases at retailers]

[A cellphone appears with a grocery basket on top and an airplane taking off.]

[Text on the screen: buy things or make reservations online]

[The credit card reappears and a long paper statement comes out of it, representing the purchase history.]

[Text on the screen: build your credit score]

[A shining trophy appears.]

[Text on the screen: 4 tips to keep your credit card under control and never pay interest]

[The credit card reappears and a fence forms on top of it.]

[Text on the screen: 1. Choose a realistic credit limit]

[Coins fall into the credit card.]

[Text on the screen: 2. Pay your balance off every month]

[A calendar appears showing the date as the 21st.]

[Text on the screen: 3. Automate your account payments so you never forget]

[An ATM slot appears and money comes out of it.]

[Text on the screen: 4. Donít use it to withdraw money from the ATM]

[Both the debit and credit cards appear. An arrow points to the debit card.]

[Text on the screen: Remember: Use this card At the ATM]

[Both cards are still onscreen. An arrow points to the credit card.]

[Text on the screen: Remember: Use this card For online purchases]

[Both cards are still onscreen. Arrows point to both cards.]

[Text on the screen: Remember: Use these cards For purchases at retailers]

[A yellow car is driving down a street with buildings, trees, flowers, white clouds and the sun in the background.]

[Text on the screen: Step into your new life with good advice.]

[Text on the screen: Desjardins.com/LivingInCanada]

[The Desjardins logo appears.]