Question
Financial Literacy Unit Test
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Question
What is a disadvantage to using a credit card instead of a debit card?(1 point)
Responses
You have to wait to save up enough money first.
You have to wait to save up enough money first.
The money comes straight out of your checking account.
The money comes straight out of your checking account.
You must pay interest on credit card purchases.
You must pay interest on credit card purchases.
You can get rewards such as free airline miles.
You can get rewards such as free airline miles.
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Answers
GPT-4o mini
The correct response to the question about the disadvantage of using a credit card instead of a debit card is:
**You must pay interest on credit card purchases.**
This is a significant disadvantage because if the balance is not paid in full by the due date, interest charges can accrue, increasing the overall cost of your purchases.
**You must pay interest on credit card purchases.**
This is a significant disadvantage because if the balance is not paid in full by the due date, interest charges can accrue, increasing the overall cost of your purchases.