Which of these is a feature of a store card?

Study for the BTEC Business – Personal Finance Exam. Test your knowledge with interactive quizzes and insightful explanations. Prepare effectively and excel in your exam!

A store card is typically designed for use exclusively at a specific retail chain, allowing customers to make purchases within that particular store and often offering certain benefits or rewards tied to that retailer. This exclusivity is a defining characteristic of store cards, as they are tailored to encourage repeat business at that specific location.

For example, a store card from a department store might provide discounts on future purchases, special promotional offers, or loyalty points, which are appealing features for customers who shop frequently at that store.

The other options do not accurately describe the nature of a store card. For instance, the ability to use a card widely across multiple retailers is characteristic of credit cards rather than store cards. Similarly, cashback offers are generally associated with credit cards or specific loyalty programs, rather than being a standard feature of store cards. Finally, the automatic deduction from a current account is a feature more aligned with direct debits or certain types of bank accounts, rather than store cards which typically operate like credit cards requiring users to make separate repayments.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy