Which term describes a plastic card that allows you to withdraw funds from an account to make a purchase with available money?

Which term describes a plastic card that allows you to withdraw funds from an account to make a purchase with available money?

• A. Debit Card
• B. Credit Card
• C. Balance
• D. Withdrawal

Answer: (A)

This describes spending money you already have in your bank account using a plastic card. A debit card lets you use funds that are currently available in your account, and the purchase or cash withdrawal is taken from that balance right away (or soon after). In contrast, a credit card would borrow money that you repay later, a balance is the amount of money in the account, and a withdrawal is simply the act of taking money out, not the card itself. So the term that fits best is debit card.

This describes spending money you already have in your bank account using a plastic card. A debit card lets you use funds that are currently available in your account, and the purchase or cash withdrawal is taken from that balance right away (or soon after). In contrast, a credit card would borrow money that you repay later, a balance is the amount of money in the account, and a withdrawal is simply the act of taking money out, not the card itself. So the term that fits best is debit card.