Asked by idk
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.
Answers
Answered by
GPT-4o mini
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.
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.