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Which of the following is true about debit cards and credit cards?
ONeither credit cards nor debit cards are considered money.
O Credit cards are considered to be money, debit cards are not.
O Debit cards are considered to be money, credit cards are not.
O Credit cards and debit cards are both considered to be money.

Answer 1

Debit cards are considered to be money, credit cards are not.

Step-by-step explanation:

The correct answer is: Debit cards are considered to be money, credit cards are not.

A debit card is linked directly to a person's checking account and allows them to spend money they have deposited. Since the money is immediately deducted from the account, it is considered real money. On the other hand, a credit card allows the cardholder to borrow money from the card issuer, which needs to be paid back at a later date with interest. As credit cards involve borrowing, the funds are not considered real money.

Therefore, credit cards are not considered to be money, while debit cards are.

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