InvestorQ : How can I track my expenses via the credit-cum-debit card?
Ishita Jain made post

How can I track my expenses via the credit-cum-debit card?

Answer
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nishi Shah answered.
1 year ago


Credit-cum-debit cards are plastic cards that provide services of credit as well as debit cards.

These cards look similar to the regular credit cards or debit cards issued by banks, but they have two chips vis-à-vis the regular cards that have one chip only. The two chips are visible on the front of the card and one chip functions as a debit card (this chip is linked to your savings bank account) while the other chip functions like a credit card.

These two chips are placed opposite each other on the card. Other than these chips, there are two magnetic stripes on the back of the card and based on which mode of transaction (debit or credit) you want to conduct, you need to present that particular side at point of sale (POS) system.

Just like with regular cards, these cards also generate single account statement at end of the month, thereby helping you track all your payments.