What is the primary function of a credit card?(1 point) Responses It allows a borrower to use funds from a financial institution and repay them later It allows a borrower to use funds from a financial institution and repay them later It allows one financial institution to borrow money from another financial institution. It allows one financial institution to borrow money from another financial institution. It minimizes the amount of debt that borrowers can accrue. It minimizes the amount of debt that borrowers can accrue. It allows a borrower to spend as much money as they desire.
The primary function of a credit card is to allow a borrower to use funds from a financial institution and repay them later.
The primary function of a credit card is to allow a borrower to use funds from a financial institution and repay them later.
The primary function of a credit card is to allow a borrower to use funds from a financial institution and repay them later. Credit cards provide a line of credit that can be used for various purchases and transactions. The cardholder can make purchases up to a certain credit limit set by the financial institution. At the end of the billing cycle, the cardholder is required to repay the borrowed funds either in full or in minimum payments, with interest charged on any outstanding balance.
