Which of the following statements about debit cards is true?

Question

Quizplus · Accepted Answer

A debit card uses the funds of the card holder to pay for the transaction. This means that the money is immediately deducted from the card holder's account at the time of the transaction, unlike a credit card where the card holder is borrowing money that must be paid back later with interest. Option B is incorrect because a debit card does not have a credit limit, as it is only spending the available funds in the account. Option C is incorrect because debit cards can be used for online transactions. Option D is incorrect because debit cards and credit cards are two different types of payment cards.

Which of the Following Statements About Debit Cards Is True