Which of the following is NOT a benefit of using a credit card? Option: Building credit history, Deferred payment option, Guaranteed lower interest rates than debit cards, Earning reward points and discounts

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Which of the following is NOT a benefit of using a credit card?

Building credit history

Deferred payment option

Guaranteed lower interest rates than debit cards

Earning reward points and discounts

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What is the primary difference between a credit card and a debit card?

Credit cards have higher interest rates than debit cards.

Credit cards are accepted internationally, while debit cards are not.

Credit cards offer rewards points, while debit cards do not.

Credit cards provide a line of credit, while debit cards deduct directly from bank accounts.

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What is a key difference in interest rates between personal loans and credit cards?

Interest rates are not applicable to these credit types.

Both have similar interest rates.

Personal loans have lower interest rates, while credit cards have higher interest rates.

Personal loans have higher interest rates, while credit cards have lower interest rates.

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What is a potential consequence of relying heavily on credit card purchases?

"Improved credit score due to frequent credit utilization"

"Lower interest rates compared to other forms of debt"

"Accumulation of debt and potential impact on credit score"

"Increased savings due to cashback rewards"

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Which of the following is NOT a benefit of having a good CIBIL score?

Easier access to credit cards

Faster loan approvals

Higher interest rates on loans

Increased negotiating power for loan terms

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What is a significant advantage of maintaining a good credit score?

"Access to exclusive credit card offers"

"Guaranteed loan approval"

"Waiver of loan processing fees"

"Lower interest rates on loans"