📝 One-liners · 65 cards
Credit Card And Debit Card
What is a credit card in the context of retail banking?
A credit card is a payment instrument issued by a bank that allows the cardholder to borrow funds up to a pre-approved credit limit to make purchases, with repayment due at a later date.
What is a PIN and why is it required for debit card transactions?
Personal Identification Number used to authenticate card holder identity.
What is the key difference between a credit card and a debit card?
A credit card allows spending borrowed money up to a credit limit with repayment later, while a debit card directly deducts funds from the cardholder's linked bank account at the time of transaction.
What is a virtual credit card?
A digital card number for online transactions without physical card issuance.
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