Which of the following is true of credit cards?

Question

Quizplus · Accepted Answer

Credit cards allow for the postponement of payment, as the cardholder can make purchases and delay the actual payment until a later date. However, this does not mean that credit cards have eliminated the use of money or that they are currently the most popular means of payment in the United States. Credit cards are considered near money, as they are still a form of payment but not included in the narrow definition of money, M1.

Which of the Following Is True of Credit Cards