Which of the following is true of credit cards?

Question

(1 point)
Responses

You cannot use them to buy something that costs more money that you have in the bank.

They generally charge 3% to 5% interest.

When you use them, you never really know how much you owe.

They can be used to make online purchases.

Answer 1

The statement that is true of credit cards is:

They can be used to make online purchases.

The other statements are not accurate or misleading:

• You can use credit cards to buy something that costs more than you have in the bank, as long as you have available credit.
• Credit card interest rates can vary widely, but they are often higher than 3% to 5%; it depends on the card and the issuer.
• You can generally see how much you owe on a credit card, as most issuers provide statements and online accounts that show your balance.