_______ is an example of plastic money.

Question

Question

This question was previously asked in

SSC GD Constable (2022) Official Paper (Held On : 09 Feb 2023 Shift 2)

Answer 1

The correct answer is Credit card.Key Points

Plastic money refers to the use of plastic cards, usually credit or debit cards, as a medium of exchange instead of physical cash.
Credit cards are a common example of plastic money, as they allow users to make purchases without carrying physical currency.
They are widely accepted and often come with rewards or cashback programs, making them a popular choice for many consumers.
While credit cards can be convenient, it's important to use them responsibly and pay off balances in full to avoid accumulating debt.
It's important to be aware of potential fraud or identity theft risks associated with credit cards and other forms of digital payment.

Additional Information

Legal tender refers to any form of currency that is recognized as valid by a government or financial system.
- This can include physical cash or coins, as well as digital currencies like Bitcoin.
Hard cash refers specifically to physical currency, such as coins, banknotes or bills.
Coins are a type of physical currency that is typically made of metal and used for smaller transactions.