Answer:
C) You can run up huge debts if you don't pay the balance off quickly.
Step-by-step explanation:
If you don't pay off your credit card balance quickly, you can run up huge debts due to the accumulation of interest and fees. Credit cards typically charge interest rates on balances that are not paid off in full each month, causing the balance to grow rapidly.
Credit cards are typically issued by banks, credit unions, and other financial institutions. Payment networks such as Visa do not issue credit cards. Payment networks process transactions made with branded credit and debit cards. Many banks and financial institutions around the world issue branded credit cards to their customers.
Credit cards generally have higher interest rates than debit cards.
Debit cards do not typically charge interest on purchases, as the funds are deducted directly from your bank account at the time of the transaction.
When you use a credit card, the money is not taken directly from your bank account. Instead, when you make a purchase with a credit card, the credit card issuer pays the merchant on your behalf, and you are required to repay the amount you borrowed from the issuer.