Question : Which of the following is not a type of credit card?
Option 1: Visa card
Option 2: Mastercard
Option 3: Debit card
Option 4: American Express card
Answer (1)
25th Jan, 2024
Correct Answer: Debit card
Solution : The correct answer is (c) Debit card
Debit cards are not considered credit cards. While debit cards are commonly issued by banks and financial institutions, they are linked directly to the cardholder's bank account and allow for the immediate deduction of funds during transactions. Unlike credit cards, which involve borrowing money from the issuer, debit cards facilitate the use of one's own funds for purchases and withdrawals.
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