Question : Which of the following is not a type of credit card?
Option 1: Visa card
Option 2: Mastercard
Option 3: Debit card
Option 4: American Express card
Correct Answer: Debit card
Solution : The correct answer is (c) Debit card
Debit cards are not considered credit cards. While debit cards are commonly issued by banks and financial institutions, they are linked directly to the cardholder's bank account and allow for the immediate deduction of funds during transactions. Unlike credit cards, which involve borrowing money from the issuer, debit cards facilitate the use of one's own funds for purchases and withdrawals.
Option 1: Debit card
Option 2: MasterCard
Option 3: Visa card
Option 1: Visa
Option 3: American Express
Option 4: None of the above
Question : Which of the following is not a type of credit facility provided by banks?
Option 1: Overdraft facility
Option 2: Term loan facility
Option 3: Lease facility
Option 4: Cash credit facility
Question : Which of the following is a feature of a credit card?
Option 1: High interest rate
Option 2: No credit limit
Option 3: No annual fee
Option 4: No penalty for late payment
Question : Which of the following is not a type of bank account?
Option 1: Savings account
Option 2: Demat account
Option 3: Credit account
Option 4: Current account
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