Loans and Credit Cards Glossary - D

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Money terms defined on this page:
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• Debit card
• Debt consolidation

Debit card

This type of card works in conjunction with your normal bank account, and allows you to withdraw money from it. You cannot borrow with a debit card unless you have an overdraft.
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This is one of the purposes you can use a loan for, and it means taking out one large loan to cover all your other debts. Pay off your other loans, credit cards, store cards, and anything else, and concentrate on paying back that single loan at a competitive rate.
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