Statement I: The first bank credit cards were issued by Bank of America in 1958.
Statement II: Credit cards are only pieces of plastic,not money.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Bank Credit Cards

Financial instruments issued by banks that allow users to borrow funds from a pre-approved limit to purchase items or withdraw cash.

Bank Of America

A multinational investment bank and financial services holding company based in the United States, serving millions of customers worldwide.