What is the difference between swiping my bank card as a credit vs. a debit? Why do you need to use credit to get rewards points?  What role does Visa and Mastercard play in the process?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: bringer_of_words, tehwildman_, herohas, niuniu1218, civil_politics, goldzatfig, londonpilot and loodog

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