What are the differences between debit card and credit card?

 A credit card is a small plastic card measuring about 85 mm by 54 mm bearing the name, date, computer number and specimen signature of the holder and the validity with raised letters to facilitate machine readability issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym. 

As per instruction given in the application form or later on in writing, the credit card issuing authority will dispatch the periodic bill to the card holder and realize the bill amount from his account as instructed earlier. In other way, the card holder may pay the periodic bill in cash or by cheque within specific period. If not paid within the grace free specific period, profit or interest or service charge on the bill amount will be charged before full payment of the bill amount.

A debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Some cards have a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a payee's designated bank account. The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary account number is assigned exclusively for use on the Internet and there is no physical card. 

A debit card is either linked to a bank account or is a prepaid card. In either case, the card draws on funds that the consumer (owner of the card) has already deposited with a financial institution. On the other hand, a credit card is a kind of loan. When a consumer uses a credit card, the financial institution fronts to the consumer credit (a loan). Purchases are totaled and billed monthly and the user pays a few weeks after receiving the monthly bill.

	Credit Card	Debit Card
Where money comes from	Borrowing money from a bank or financial institution. (Spending "other's" money)	Funds taken from the money that you have in your bank account. (Spending your "own" money)
Can be used as:	Credit card only	Debit or credit card i.e., a debit card may be used without a PIN for certain types of transactions such as e-commerce
Line of Credit:	Carries Line of Credit	No Line of Credit
PIN Number:	Usually not. However, some credit cards may provide PINs to allow consumers to withdraw money from ATMs just like debit cards. Such withdrawals are generally a bad idea because they carry high fees and interest rates.	PIN number provided, but not always asked to punch in.
Picture ID required before issuance:	YES	NO
Interest:	If a credit card bill is not paid in full, interest is charged on outstanding balance and the interest rate is very high.	No interest is charged because no money is borrowed. Consumers own funds are used to make purchases.
Credit History:	Responsible credit card usage and payment can improve one's credit rating. Credit cards typically report account activity to at least one of the three major credit bureaus on a monthly basis.	Does not affect credit history
Legal Liability laws:	Strict. Consumer liability limit for credit card fraud is $50 if the credit card company is notified within 60 days in written since the fraudulent charges.	Lean. Consumer liability limit for debit card fraud is $50 if the bank is notified within two days of noticing the fraudulent charges.
Risk involved:	Low. Consumers are protected against unauthorized purchases as long as the fraud is reported in a timely manner. Consumers are not responsible for charges incurred in fraudulent transactions.	High, as they are attached to a bank account. A person does not need a PIN number to use a debit card and therefore can easily drain a person’s bank account, causing extreme problems
Fraud:	Only problem is proving that someone else has used the card.	With a debit card the person has to figure out how to get their money back and if any checks bounced they are responsible for those as well.
Limit:	Credit line, which can be increased/decreased from the time of applying.	Equals your account limit.
Overdraw Fees:	Low. Some credit card companies allow to overdraw amount over the maximum credit line with a fee.	High "overdraft" fees. Possible to overdraw amount over the account limit
Monthly bills:	Yes	No
Offers protection and other benefits:	Often. For example, extended warranties on new products, or insurance on a rental car.	Sometimes. For example, extended Warranties on new products, or insurance on a rental car.