Which of the following is the fundamental function of credit cards?
A)Credit cards are used for deferring payments.
B)Credit cards are used as store of value.
C)Credit cards are used for increasing the money supply.
D)Credit cards are used as investment assets.

Question

Quizplus · Accepted Answer

The fundamental function of credit cards is to allow users to make purchases and defer payment, essentially borrowing money from the issuing bank. While credit cards may also provide other benefits such as rewards or cashback, their primary purpose is to enable purchases without requiring immediate payment.

Which of the Following Is the Fundamental Function of Credit