With reference to Credit Card, which one of the following statements is INCORRECT?

Question

KollegeApply · Accepted Answer

The cardholder has to deposit some money in advance with the issuer bank. Explanation: A credit card is a plastic card issued by financial companies to grant credit to reputable individuals. The cardholder does not make an upfront deposit with the issuing bank. Cardholders can pay with their card, but may incur additional fees to use the facility. Cardholders benefit from incentives and gifts.

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