Which of the following statements comparing debit cards to credit cards is TRUE?A Debit cards allow you to draw funds directly from your checking accountB Debit cards typically offer greater fraud protection than credit cardsC Debit cards never require a signature to finalize a purchase like credit cards.D Debit cards charge higher interest rates on purchases than credit cards.

Question

13-05-2016
Computers and Technology

Answered

Which of the following statements comparing debit cards to credit cards is TRUE?A Debit cards allow you to draw funds directly from your checking accountB Debit cards typically offer greater fraud protection than credit cardsC Debit cards never require a signature to finalize a purchase like credit cards.D Debit cards charge higher interest rates on purchases than credit cards.

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metchelle metchelle · Answer 1 · 2016-05-21T08:40:43-04:00

A is correct because the source of debit or atm cards are either your checking or savings account and there is actual/available money. Therefore, you can withdraw them.
B. is incorrect. Credit cards offers more fraud protection and that they will find all means to get their money. It's probably to secure them too since they up fronted the payment for you. For debit cards, it has lesser fraud protection and that you'll have to do find a way to get your own money back.
C. is wrong. Debit cards does not require signatures but uses a PIN to complete or acknowledge a transaction.Credit cards uses the client's signature.
D. is also incorrect since debit cards are your actual funds that you have on your account. Unlike in credit cards, since it's a loan, they charge the interest rates.