Which of the following represent the use of credit?

Question

Quizplus · Accepted Answer

A mortgage is a type of loan that is used to purchase a property or a home. This type of loan is an example of using credit because it allows the borrower to access funds that they do not yet have, with the promise of paying those funds back with interest over time.

Answer: E
 A debit card is not typically considered a form of credit, as it typically directly accesses funds that the user already has available in their checking account. However, in some cases, debit cards may have overdraft protection, which temporarily allows the user to access funds that they do not have, with the understanding that they will pay back those funds (with interest and/or fees).

Which of the Following Represent the Use of Credit