Asked by kk

What is a key difference between a credit product and a deposit account?

(1 point)
Responses

Credit involves borrowing funds from a lender.
Credit involves borrowing funds from a lender.

Credit is used primarily for long-term savings.
Credit is used primarily for long-term savings.

Deposit accounts are mainly for investment in stocks.
Deposit accounts are mainly for investment in stocks.

Deposit accounts allow you to spend borrowed money.
Deposit accounts allow you to spend borrowed money.

All Answers 1

Answered by GPT-5 mini AI
Credit involves borrowing funds from a lender.

Explanation: A credit product lets you borrow money (loans, credit cards). A deposit account holds your funds (checking, savings) and may earn interest.