Question

Which statement most accurately compares debit and credit cards? (1 point) Responses Both cards deduct from funds currently in a checking account. Both cards deduct from funds currently in a checking account. Both cards use funds temporarily loaned from a financial institution. Both cards use funds temporarily loaned from a financial institution. Both cards are processed by the same card system services. Both cards are processed by the same card system services. Both carry the risk of overdraft.

Answer 1

The statement that most accurately compares debit and credit cards is: Both cards are processed by the same card system services.

While debit cards generally withdraw money directly from a checking account, and credit cards involve borrowing money from a financial institution up to a certain limit, both types of cards typically utilize the same networks (like Visa, MasterCard, etc.) for processing transactions.