ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Depends on the situation
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True
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False
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At the grocery store yes, but besides that no!
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Detailed explanation-1: -Credit cards give you access to a line of credit issued by a bank, while debit cards deduct money directly from your bank account. Credit cards offer better consumer protections against fraud compared with debit cards linked to a bank account.
Detailed explanation-2: -You also might be wondering: What’s the difference between a credit card and a debit card? The biggest difference is where the money comes from when you make a purchase. With a credit card, you’re borrowing money, while a debit card pulls funds directly from your linked bank account.
Detailed explanation-3: -A credit card is not money. It provides an efficient way to obtain credit through a bank or financial institution.
Detailed explanation-4: -A debit card is a type of payment card that conveniently facilitates secure and easy payments both online and in-person. Debit cards differ from credit cards in that the money attached to the debit card comes directly out of a checking account rather than being borrowed and paid later.