Types of Creditors and Credits Quick Check

Question

4 of 54 of 5 Items

Question
What is the difference between a charge card and a credit card?(1 point)
Responses

A charge card has a revolving line of credit while a credit card is paid off each month.
A charge card has a revolving line of credit while a credit card is paid off each month.

A charge card has zero interest while a credit card has a high interest.
A charge card has zero interest while a credit card has a high interest.

A charge card is issued by a bank while a credit card is issued by a merchant.
A charge card is issued by a bank while a credit card is issued by a merchant.

A charge card is paid off each month while a credit card has a revolving credit line.

Answer 1

A charge card is paid off each month while a credit card has a revolving credit line.