What is the difference between a debit card and a credit card?
Answer
The correct answer is B: Debit cards withdraw money directly from a bank account, while credit cards allow borrowing up to a certain limit.. The fundamental difference is that debit cards draw funds directly from your bank account, while credit cards allow you to borrow money up to a pre-approved limit.
A.Credit cards require a PIN, while debit cards require a signature.
B.Debit cards withdraw money directly from a bank account, while credit cards allow borrowing up to a certain limit.✓ Correct
C.Debit cards are used for online transactions, while credit cards are used for in-person purchases.
D.Debit cards have higher interest rates than credit cards.
Explanation
The fundamental difference is that debit cards draw funds directly from your bank account, while credit cards allow you to borrow money up to a pre-approved limit.
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