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

What is the primary purpose of a credit card?

• To facilitate electronic payments

• To earn interest

• To provide loans

• To store cash

Which of the following best describes how a credit card transaction works?

• The merchant pays the card issuer

• The transaction is completed without any payment

• Money is directly transferred from your bank account

• The card issuer pays the merchant and you repay the issuer later

What is one potential benefit of using a credit card?

• No need to repay

• Instant cash withdrawal

• Building a credit history

• Unlimited spending

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

• Inability to track expenses

• High interest rates on unpaid balances

• Immediate payment requirement

• No credit limit

How can credit cards impact your financial health?

• They can help build credit but also lead to debt

• They only lead to financial losses

• They have no impact

• They guarantee financial security