Question

_________ are used in place of writing checks. The amount you spend using this card will be deducted from your checking account. Credit cards Multi-purpose credit cards Single purpose credit cards Debit cards

Answer 1

Debit cards have replaced check writing in many ways. This is because debit cards, like checks, will take the money directly from your bank account. Unlike credit cards, you must have the money in your account for you to use your debit card. Credit cards allow you to "borrow" money and pay it back later.

Answer 2

The correct answer would be E, Debit Cards.

Step-by-step explanation:

Debit cards are used in place of writing checks. The amount you spend using this card will be deducted from your checking account.

Debit cards are the cards which are issued by the banks to the account holder to pay through it without writing checks and coming to banks for withdrawing amounts and make payments. Debit cards can be used to make payments online if you purchase anything. They can be used to make payments on all stores if you want. Debit cards have made it possible to avoid cash in hand which could be a threat in some situations. Debit cards serve the same purpose as checks(used to withdraw money), but they don't require you to write checks or go to banks to withdraw money.