Which of the following best describes how debit cards and credit cards are both similar and different? Both dobitand creditoendalow you to purchase an Item before you have the money in your bank account. Though with credit cards, you repay the money on your own schoolble, while with debit cands,you/pay It back inequal monthly installments. Both dobitandereditoards have spending limits based on a person's credit score However, the amount of money available on a dobt cardisalso intedby how much imoney a person has In their bank account, and credit cards don't have this limit. Both dobit and credit cards make it easy to make purchases either in-person or online However, a debit card links directly to yourbankaccountandreaswesthemoney Immediately after you spend it, whereas spending on a credit card means borrowing the money from a financial Institution and paying it back later. Both dobitand credit cards allow you to borrow money from a financial institution. The difference is that your spending limit on acrest card is determined by your credit score, and your spending limit on a debit card is determined by the balance of your bankaccount.

## Step 1<br />The problem is asking us to identify the correct statement that best describes the similarities and differences between debit cards and credit cards. <br /><br />## Step 2<br />Let's analyze each option:<br /><br />### Option A: <br />This option incorrectly states that debit cards require repayment in equal monthly installments, which is a characteristic of credit cards, not debit cards.<br /><br />### Option B: <br />This option incorrectly suggests that debit cards have spending limits based on a person's credit score, which is a characteristic of credit cards, not debit cards.<br /><br />### Option C: <br />This option correctly identifies that both debit and credit cards allow easy purchases either in-person or online. However, it incorrectly states that debit cards link directly to your bank account and withdraw money immediately after you spend it, whereas spending on a credit card means borrowing the money from a financial institution and paying it back later.<br /><br />### Option D: <br />This option correctly identifies that both debit and credit cards allow you to borrow money from a financial institution. The difference is that your spending limit on a credit card is determined by your credit score, and your spending limit on a debit card is determined by the balance of your bank account.