Which of the following is true about debit cards?(1 point) Responses When you use one, the money is taken directly from your bank account. When you use one, the money is taken directly from your bank account. They usually charge a lower interest rate than credit cards. They usually charge a lower interest rate than credit cards. They are issued by networks such as Visa. They are issued by networks such as Visa. You can run up huge debts if you don’t pay the balance off quickly. You can run up huge debts if you don’t pay the balance off quickly.

Question

Which of the following is true about debit cards?(1 point) Responses When you use one, the money is taken directly from your bank account. When you use one, the money is taken directly from your bank account. They usually charge a lower interest rate than credit cards. They usually charge a lower interest rate than credit cards. They are issued by networks such as Visa. They are issued by networks such as Visa. You can run up huge debts if you don’t pay the balance off quickly. You can run up huge debts if you don’t pay the balance off quickly.

Answer 1

The statement "When you use one, the money is taken directly from your bank account" is true about debit cards.

Answer 2

The following statements are true about debit cards:

1. When you use one, the money is taken directly from your bank account.
2. They usually charge a lower interest rate than credit cards.
3. They are issued by networks such as Visa.
4. You can run up huge debts if you don't pay the balance off quickly.

Answer 3

To determine which of the following statements is true about debit cards, you can consider the options provided and assess their accuracy:

1. "When you use one, the money is taken directly from your bank account."
This statement is true. When you make a purchase using a debit card, the funds are deducted directly from your bank account.

2. "They usually charge a lower interest rate than credit cards."
This statement is generally true. Debit cards do not typically charge interest because they do not involve borrowing money like credit cards. However, some overdraft fees may apply if you spend more than what is available in your bank account.

3. "They are issued by networks such as Visa."
This statement is true. Debit cards can be issued by various networks such as Visa, Mastercard, American Express, and Discover.

4. "You can run up huge debts if you don’t pay the balance off quickly."
This statement is not applicable to debit cards. Unlike credit cards, which allow you to borrow money and accrue debt, debit cards only enable you to spend funds that are already available in your bank account. Therefore, there is no balance to pay off and no opportunity to accumulate large debts.

In summary, the true statements about debit cards from the options provided are:

- When you use one, the money is taken directly from your bank account.
- They are issued by networks such as Visa.

It's important to note that while these statements are generally true, specific terms and conditions may vary depending on the financial institution and the type of debit card.