Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the average credit card debt per household in 2012?
What is the average credit card debt per household in 2012?
- $5,000
- $10,000
- $3,000
- $7,100 (correct)
What is the primary purpose of a credit card for consumers?
What is the primary purpose of a credit card for consumers?
- To save money for future purchases
- To build a credit history
- To make purchases on credit (correct)
- To earn cashback rewards
What is the fundamental difference between a credit card and a debit card?
What is the fundamental difference between a credit card and a debit card?
- Credit card allows purchases on credit, while a debit card deducts directly from the user's bank account (correct)
- Debit card has a higher credit limit than a credit card
- Debit card offers more rewards than a credit card
- Credit card has higher fees than a debit card
What does the text suggest about credit cards for consumers?
What does the text suggest about credit cards for consumers?
Signup and view all the answers
What is the primary benefit of a credit card for creditors?
What is the primary benefit of a credit card for creditors?
Signup and view all the answers
Flashcards are hidden until you start studying
