A smart card carries no preset spending limit, and each month the user can pay all or part of the amount owed.

Question

Quizplus · Accepted Answer

A smart card is typically a card with an embedded microprocessor chip that can be loaded with data and used for various purposes like secure transactions or storing personal information, not necessarily related to credit functions or spending limits. The description given aligns more with certain credit cards, specifically charge cards, which may not have a preset spending limit but require full payment of the balance each month.

A Smart Card Carries No Preset Spending Limit, and Each