Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which party is NOT involved in credit card transactions?
Which party is NOT involved in credit card transactions?
- The issuing bank
- The acquiring bank
- The customer (cardholder) (correct)
- The retailer
Which type of card allows users to buy now and pay later?
Which type of card allows users to buy now and pay later?
- Credit cards (correct)
- Debit cards
- Prepaid cards
What is the minimum payment required on credit cards every month?
What is the minimum payment required on credit cards every month?
- Minimum of 10% of outstanding amount every month (correct)
- Full payment on or before the due date
- Outstanding converted into EMIs
What is necessary for banks to undertake credit card business in India?
What is necessary for banks to undertake credit card business in India?
Signup and view all the answers
How are finance charges calculated on credit cards?
How are finance charges calculated on credit cards?
Signup and view all the answers
