Which of the following statements is true of credit cards?

Which of the following statements is true of credit cards?

The institution that issues the credit card guarantees payment of a credit charge to merchants.

Credit cards act like checks.

Credit cards offer no purchase "grace period," and provide no hard "paper trail."

The use of credit card results in a direct, immediate, electronic payment from the cardholder's checking account to a merchant or other party.

Card issuers do not levy any transaction fees on merchants for performing the credit check of the card holders.