Which description best fits a convenience card?

A convenience card is best described as a prepaid card used to replace cash transactions. This type of card allows consumers to load a specific amount of money onto it, which can then be used for purchases without needing to carry cash. The primary function of a convenience card is to provide an easy and flexible payment method for smaller transactions, similar to cash.

This option aligns with the characteristics of convenience cards, as they are designed to facilitate quick and straightforward payments for everyday purchases, making them a popular choice for individuals who may not want to use a debit or credit card for small amounts. Additionally, prepaid cards typically do not require a bank account, and they can be used anywhere that the associated payment network is accepted, giving them flexibility similar to cash.

Other options describe different types of payment cards that do not fit the definition of a convenience card. For example, a debit card is linked directly to a bank account for withdrawal transactions; a credit card generally involves a revolving line of credit and may have a high-interest rate; and a card that cannot be used for online purchases does not serve the purpose of convenience in today’s digital marketplace. By focusing on the prepaid aspect, the correct answer captures the essence of what a convenience card is meant to offer.