BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It must be accepted at any place of business that accepts cash.
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It most often is used to make large purchases such as a car.
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It cannot be used to make purchases under $10
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It allows a person to make purchases wherever the card is accepted.
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Detailed explanation-1: -Transactions made with a credit card can impact your credit score. Credit card transactions can impact your credit score. Credit cards also typically offer more fraud protection than debit cards.
Detailed explanation-2: -A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder’s accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges).
Detailed explanation-3: -Credit cards can help build your credit history, protect your checking account from fraud, and earn you valuable rewards. If you spend within your means and pay off your balance in full every month, you’ll avoid paying interest fees, as well as debt.
Detailed explanation-4: -Credit Card advantages include enhanced financial health, improved credit score, balance transfer, easy loan approval, access to funds in case of emergency, affordable EMIs, among multiple other additional benefits.