ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the difference between a credit card and a debit card?
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A debit card is issued by a bank, a credit card is not.
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A debit card can only be used at an ATM, while a credit card can be used to by things at stores or online.
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A debit card takes money directly from your checking account, while using a credit card is a form of borrowing
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Debit card users must pay interest to banks; credit card users collect interest from banks.
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Explanation:
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.
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