A major difference between credit cards and debit cards is that
Multiple Choice
it is easier for computer hackers to steal credit card information than debit card information.
debit cards work like a check.
credit cards result in immediate payment, while debit card payments take longer to process.
debit cards offer a purchase "grace period," while credit cards do not.
debit cards provide a "paper trail," while credit cards do not.

Question

23-05-2024
Business

Answered

A major difference between credit cards and debit cards is that
Multiple Choice
it is easier for computer hackers to steal credit card information than debit card information.
debit cards work like a check.
credit cards result in immediate payment, while debit card payments take longer to process.
debit cards offer a purchase "grace period," while credit cards do not.
debit cards provide a "paper trail," while credit cards do not.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-05-23T02:00:37-04:00

Final answer:

Debit cards are linked to bank accounts for direct fund transfers, while credit cards provide a line of credit. Debit card payments are instant, unlike credit cards, and they offer a paper trail for tracking expenses.

Explanation:

Debit cards are linked to a holder's bank account, allowing for direct transfer of funds when making purchases. On the other hand, credit cards are not tied to a bank account but rather provide a line of credit extended by the issuer.

Unlike credit cards, where purchases result in accumulating debt that needs to be paid off later, debit card payments are immediate as they deduct funds directly from the holder's account.

Debit cards offer a 'paper trail' since they are directly connected to the user's bank account, making it easier to track spending, unlike credit cards which involve borrowing money from the card issuer.

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