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What is an acceptable form of payment for a Closed Loop card or telecommunications card such as Applebee's, Lowe's, Home Depot, AT&T, etc.? (Select ALL that apply)

A. Cash
B. Credit Card
C. Debit Card

Sagot :

GinnyAnsweridn

Final answer:

Debit cards are a suitable form of payment for Closed Loop cards, utilizing funds from the linked checking account, while cash is also accepted. Credit cards may not be as commonly accepted due to the closed-loop system.


Explanation:

Debit cards are an acceptable form of payment for Closed Loop cards or telecommunications cards like those from Applebee's, Lowes, Home Depot, and AT&T, as they tap directly into the cardholder's checking account. Unlike credit cards, debit cards do not provide a line of credit but use funds available in the linked bank account for transactions. Cash is also an acceptable form of payment for these cards, while credit cards may not be as widely accepted due to the closed-loop nature of the specific cards.


Learn more about Payment methods for Closed Loop cards here:

https://brainly.com/question/36491642


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