Question
Prepaid Credit Cards.What is a prepaid credit card? How does it differ from a secured credit card? Prepaid cards are:(Select the best answer below.) A.
Prepaid Credit Cards.What is a prepaid credit card? How does it differ from a secured credit card?
Prepaid cards are:(Select the best answer below.)
A. cards that can be purchased that are electronically loaded with a specific amount of cash. The cards can then be used just like a credit card until the balance is depleted.
B. cards issued by your credit card company and are electronically loaded with a specific amount of cash. The cards can then be used to obtain money from any ATM until the balance is depleted.
C. cards that can be purchased that are electronically loaded with a specific amount of cash. The cards can then be used just like a credit card until the card's expiration date.
D. cards that can be purchased and are backed with funds deposited into a special account. The cards can then be used just like a credit card until the balance is depleted.
How does it differ from a secured credit card?(Select the best answer below.)
A. Prepaid cards are ATM cards and are not credit per se.
B. Prepaid cards are a form of electronic cash and are backed with funds deposited into a special account.
C. Prepaid cards are a form of electronic cash and are not credit per se.
D. Prepaid cards are a form of electronic cash and are accepted in more places than credit cards
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started