Question : Which of the following is a feature of a credit card?
Option 1: High interest rate
Option 2: No credit limit
Option 3: No annual fee
Option 4: No penalty for late payment
Answer (1)
23rd Jan, 2024
Correct Answer: No annual fee
Solution : The correct answer is (c). No annual fee
Credit cards are a type of payment card that allows users to borrow funds from a financial institution (usually a bank) to make purchases or withdraw cash up to a certain credit limit. While credit card terms and conditions can vary, it is common for credit cards to have an annual fee.It's worth noting that credit card features can vary depending on the specific card and the terms and conditions set by the credit card issuer.
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