Debit card vs. credit card

Debit card vs. credit card (1 min 17 s)

Added on August 1, 2022


What's the difference between a debit card and a credit card? Listen to what the Credit Coach has to say and learn how to manage your finances effectively with Desjardins.

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Debit card vs. credit card (1 min 17 s)

Added on August 1, 2022 | Personal

Note: The information between brackets describes the visual and audio content of the video that is not dialogue or narration.

[On-screen text: Debit card versus Credit card]

[A leafy plant stands in front of a white wall with a clock.]

Credit coach: Whatís the difference between a debit card and a credit card?

[The credit coach enters the room. She's wearing a green sports jacket, a yellow sweatband and yellow wristbands. A whistle hangs around her neck.]

Credit coach: Credit coach!

[She blows the whistle.]

[On-screen text: credit coach]

[Upbeat music]

[Wearing various sports outfits, the credit coach stretches, drinks a smoothie while lifting a small dumbbell, karate chops wood planks, plays tennis in virtual reality, flexes her biceps and does the limbo.]

[The credit coach stands between the plant and the clock.]

Credit coach: It's important to know how each card works. To the left: a debit card. When you use it, money is immediately withdrawn from your account.

[A debit card user appears dressed in pink and wearing a sweatband that says "debit". She shakes her head with a confused expression.]

Credit coach: So, let's say you take out 20 bucks and BAM! That's 20 bucks out of your account. Now, to the right: a credit card. Just like the name says, it's credit.

[A credit card user appears dressed in blue and wearing a sweatband that says "credit." She's lifting small dumbbells.]

Credit coach: The financial institution advances you money up to a certain limit based on the promise that you'll pay it back. Your financial institution sets your credit limit. It varies based on your income and your needs. But remember, you have to pay back every single purchase you make with your card. If you don't pay it back by the due date, youíll be charged interest on the amount you owe.

[The credit card user buys a tennis racket, a yoga mat, a smart watch, sunglasses, a gold jacket and a gold chain with a dollar sign pendant.]

Credit card user: HmmÖ Maybe I'll return some of this.

Credit coach: Your debit card is practical for withdrawing money from an ATM and connecting to your financial institution. It's easy! At the end of the day, your debit and credit card complement each other. You can use either one for your expenses.

[The credit card user smiles while posing with her purchases.]

[On-screen logo: Desjardins logo]

[Background music: Desjardins jingle]

End of transcript