Which statement about credit cards and debit cards is true? There is no difference between a credit card and a debit card. A credit card allows a cardholder to use money the cardholder has in a bank account. A debit card allows a cardholder to use money the cardholder has to pay back later. A credit card allows a cardholder to use money the cardholder has to pay back later. A debit card allows a cardholder to use money the cardholder has in a bank account. Both debit cards and credit cards allow a cardholder to use money the cardholder has to pay back later, but credit cards include a finance charge.

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Which statement about credit cards and debit cards is true? There is no difference between a credit card and a debit card. A credit card allows a cardholder to use money the cardholder has in a bank account. A debit card allows a cardholder to use money the cardholder has to pay back later. A credit card allows a cardholder to use money the cardholder has to pay back later. A debit card allows a cardholder to use money the cardholder has in a bank account. Both debit cards and credit cards allow a cardholder to use money the cardholder has to pay back later, but credit cards include a finance charge.

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Let's break down the statement about credit cards and debit cards step by step, following the requirements for clear and concise explanation.1. **Understanding the Basics**: - **Debit Card**: A debit card is directly linked to a cardholder's bank account. When a purchase is made, the amount is deducted from the cardholder's account immediately. It's essentially using the money you already have. - **Credit Card**: A credit card gives the cardholder a line of credit issued by the bank. The cardholder can make purchases up to a certain limit and is required to pay back the borrowed amount later, often with interest if the balance is not paid in full by the due date.2. **Evaluating the Statements**: - The first statement says there is no difference between a credit card and a debit card. This is incorrect because their fundamental functions are different as explained above. - The second statement reverses the functions of credit cards and debit cards, which is incorrect. - The third statement correctly identifies the functions of both types of cards. - The fourth statement incorrectly states that both types of cards require the money to be paid back later. This applies only to credit cards, and while they often include finance charges if the balance is not paid in full, debit cards do not operate on a basis of

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