Which of the following is true about credit cards?(1 point) Responses They are issued by networks such as Visa. They are issued by networks such as Visa. They usually charge a lower interest rate than debit cards. They usually charge a lower interest rate than debit cards. When you use one, the money is taken directly from your bank account. When you use one, the money is taken directly from your bank account. You can run up huge debts if you don’t pay the balance off quickly.

Question

GPT-4o mini · Answer

The true statement about credit cards is: You can run up huge debts if you don’t pay the balance off quickly.

Here's a breakdown of the other statements:

They are issued by networks such as Visa. (False) – Credit cards are issued by banks or financial institutions, and Visa is a payment network, not the issuer.
They usually charge a lower interest rate than debit cards. (False) – Debit cards do not charge interest because you are using your own money. Credit cards generally have higher interest rates.
When you use one, the money is taken directly from your bank account. (False) – When you use a credit card, you are borrowing money from the credit card issuer, not taking it directly from your bank account.