Question

What is the primary difference between a Credit Card and

Q: Answer-What is the primary difference between a Credit Card and a Debit Card?

Credit cards allow overdrafts debit cards do not. One key difference is that credit cards can allow you to spend more than you have, creating a debt, while debit cards only allow you to spend whats in your account.

a Debit Card?

A Credit cards allow overdrafts; debit cards do not.

B Credit cards have higher interest rates than debit cards.

C Credit cards are issued by banks; debit cards by credit unions.

D Credit cards are only for online shopping; debit cards for in-store purchases.

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Relevant for Exams:

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What is the primary difference between a Credit Card and

Solution

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