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The video provides a brief introduction to credit cards, explaining their basic purpose and function in personal finance.

What is the primary function of a credit card?

• To store money

• To provide a line of credit for purchases

• To transfer funds between accounts

• To earn interest

Which of the following is a key component of how credit cards work?

• Fixed interest rates

• Unlimited credit limit

• Interest rates and credit limits

• No repayment required

What is one potential benefit of using a credit card?

• Instant cash withdrawal

• Unlimited spending

• Building a credit history

• No need to repay

Which of the following is a potential drawback of using credit cards?

• No credit score impact

• High interest rates

• No spending limit

• Instant approval

What should you consider when using a credit card?

• The card's design

• The bank's location

• The interest rate and repayment terms

• The color of the card