Question

which of the following are typically disadvantages of using a debit card?

• usually have annual fees
• no building of credit score
• hard to use online
• no fraud protection
• must have the money upfront to make a purchase
• none of the above

Explanation:

• "Usually have annual fees": Most debit cards do not have annual fees, so this is incorrect.
• "No building of credit score": Debit cards use funds from the linked account and do not involve credit, so they don't help build a credit score. This is a disadvantage.
• "Hard to use online": Debit cards are widely used online, so this is incorrect.
• "No fraud protection": Debit cards do have fraud protection (though different from credit cards), so this is incorrect.
• "Must have the money upfront to make a purchase": Debit cards deduct from the account balance, so you need sufficient funds upfront. This is a disadvantage.

Answer:

B. No building of credit score, E. Must have the money upfront to make a purchase