3. What is the difference between a debit card and a credit card? (LO 3-2)

a. A debit card takes money out of your checking account, whereas a credit card extends a loan to you when you use it.

b. Debit cards may be used only in the United States.

c. Credit cards always have fees attached, whereas debit cards never do.

d. You can use your debit card only at ATM machines and you can use your credit card only for purchases.