BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ATM cards
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Debit cards
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Credit cards
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All of these
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Detailed explanation-1: -Credit risk is the biggest risk for banks. It occurs when borrowers or counterparties fail to meet contractual obligations. An example is when borrowers default on a principal or interest payment of a loan. Defaults can occur on mortgages, credit cards, and fixed income securities.
Detailed explanation-2: -Credit card security threats include untrained staff, not understanding fake credit card clues, not verifying identity, storing customer data for later charges and refunding cash on a credit card transaction. Your credit card processor can help mitigate credit card security risks.
Detailed explanation-3: -Missing your credit card payments Your payment history is one of the biggest factors that contribute to your credit scores, so missing payments can have a serious impact on your credit. Also, if you miss a payment, you’ll typically be charged a late fee. A penalty APR may be applied to your account as well.