The difference is, you don't actually own your CC. You have physical possession yes, you can manage various aspects of it yes, you can even turn it off if you desire - but you don't own it. The bank does. The bank controls the card far more thoroughly than you do, including rights to create, replace, remotely destroy, cancel transactions, etc. You have the physical card and you can use it, but all of the permissions you have are rights granted to you by the true owner of the card - the bank.