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Comment by vidyesh | Hacker News Reader

Oh so your bank issues a debit and credit card merged together? How does that work? This sounds fascinating.

I am from India, I have multiple cards but most because there is a surge of credit card offers in India, most banks are providing free credit cards and offers to get people signed up.

So many of those cards are just used to utilise those offers to get discounts and a certain select websites for discounts.

But I practically use my debit card, a credit card hooked to online payment services ( paypal et all ) and a backup credit card when I cross the limit of my other credit card. That's all.

One other card I use is just when dining out in which I get some % discount/cash back offers thats all.

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> Oh so your bank issues a debit and credit card merged together? How does that work? This sounds fascinating.

It works just like any other card, you just select which one you want to use when you make a payment. Here is an example of how it looks like

http://handelsbanken.fi/shb/inet/icentfi.nsf/vlookuppics/10_...

How do you select?

In the US, a debit card can be charged like a credit card but the funds are obviously deducted from the balance on your bank account. It also lacks the protection and rewards that a typical credit card would have. I just want to clarify that you indeed have two separate things here on one card and its nothing like how the US does it correct?

On the chip&pin terminal when you enter pin and ok the transaction, there's a selection for "debit" or "credit".

Yes they are separate, debit uses my bank account directly and credit is invoiced every month separately.

The selection process is very simple, you just put your card into the machine (almost all the cards nowadays are chip based nowadays but there is also a magnetic reader usually on the right), something like this

http://data.talka.com/files/Yomnani.JPG

then the machine shows amount and you select

1) Credit

2) Debit

Then it asks for pin and that's it.

I'm an Indian living in the UK and don't have this figured out yet. What's the difference when you select to pay by credit, if the balance is paid automatically from your account at the end of the month, instead of being debited immediately from your account? Or do you have to manually pay back your balance?

Well, there's the obvious difference, that the money stays in your account for longer with a credit card.

There are legal differences, too: credit cards are regulated by the Consumer Credit Act, which makes the card issuer jointly liable in many cases. So, for example, if you order a product with a credit card, and the retailer goes bust before supplying it, the credit card issuer is also liable. If you'd bought it with a debit card, you'd be out of luck.

Finally, if your card details are compromised, you've slightly longer to sort things out with a credit card: with a debit card, you could find yourself with no cash at all.

http://www.moneysavingexpert.com/shopping/section75-protect-...

Okay. The chip based cards. So you need to have credit and debit account(s) in the same bank, right?

That sounds good and very handy.

The chip based cards ( EMV ) are being introduced in India, rather RBI ( Reserve Bank of India - Controls monetary policy of India) has made it mandatory for all banks to replace the present cards and make them all as EMV.

But its not to merge them but to reduce the frauds.

They have it in Australia too for a long time. The ATM and POS terminal asks you: Credit/Savings/Checking or smth.

I've seen this in some countries in mainland Europe. Problem was it asked me on my regular UK debit card, had no idea what to choose, trial and error until one of them didn't spit my card out... Thanks for enlightening me

It's pretty annoying because all I want is a debit card, I don't want a credit card but my bank forced me this kind of dual card.

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