a good example of an open-end credit is

A ____ of credit is an example of an open-end credit. T he three main types of credit are revolving credit installment and open credit.

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These cards all have different credit limits and interest rates so it is important to compare them before choosing one.

. A line of credit is one type of credit that comes with. Suppliers frequently extend short-term credit to encourage sales to retailers. Finance questions and answers.

The pre-approved amount will be set out in the agreement between the lender and the borrower. Conversely home equity lines of credit HELOC and credit cards are examples of open-end credit. Chapter 006 Introduction to Consumer Credit 77.

In the consumer market home equity loans are an example of an open-end credit which allows homeowners to access funds based on the level of equity in the homes. Some examples of open-end credit cards include Visa MasterCard and American Express. B the mortgage loan from a savings and loan institution.

With a closed-end loan you borrow a specific amount of money. Using overdraft protection at a bank. A installment loan from a furniture store.

D installment loan from a furniture store. D installment loan from a furniture store. 173 A good example of an open-end credit is.

A credit card issued by VISA or MasterCard. An example of open-end credit is credit card which is very common because it. Automobile loan from a credit union.

D installment loan for purchasing a major appliance. A good example of an open-end credit is A the use of a bank credit card to make a purchase. To better understand open-end credit it helps to know what closed-end credit means.

Installment loan from a furniture store. 475 24 votes. It helps borrowers to have control over when and how much they borrow.

A pre-approved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due. Terms in this set 9 Open end credit. Revolving open-end credit is designed to be used repeatedly with a predefined credit limit approved by credit card companies.

Open End Credit This is a type of credit loan paid on installments in which the total amount borrowed may change over time and is fixed. C automobile loan from a credit union. The lender expects to receive the payment back with extra money called interest after a certain amount of time.

B the mortgage loan from a savings and loan institution. The issuing bank. A good example of an open end credit is A the use of a bank credit card to make A good example of an open end credit is a the use of School University of Alberta.

It is a pre-approved loan from a financial institution which controls the amount a borrower can borrow. Summary An open credit is a financial arrangement between a lender and a borrower that allows the latter to access credit repeatedly up to a specific maximum limit. B the mortgage loan from a savings and loan institution.

Common examples of revolving-open end credit are credit cards and home-equity line of credit. _____ is a good example of a closed-end credit. Installment loan for purchasing a major appliance.

Borrower pays back a onetime loan in a stated. Installment loan from a furniture store. Open-end credit agreements are also.

The mortgage loan from a savings and loan institution. Installment loan for purchasing a major appliance. The preapproved amount will be set out in the agreement between the lender and the borrower.

Open-end credit allows or enables borrowers to purchase repeatedly with an open end credit line. Credit cards are one of the most common types of open-end loans and can be issued by businesses banks and other lenders. You may still owe on one purchase while you are purchasing yet another shipment.

What are the Types of Credit. A credit card issued by a department store. Automobile loan from a credit union.

Open-end credit cards are the most common type of credit card and are issued by most major credit card companies. Credit enables people to purchase goods or services using borrowed money. The use of a bank credit card to make a purchase.

A credit line that you use at a supplier. Store cards bank credit cards. A good example of an open-end credit is.

Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due. Using a cashiers check to pay for a purchase. E installment loan for purchasing a major appliance.

A mortgage loan from a savings and loan institution. Credit cards can be used to finance purchases regardless of cash flow disruptions and they. E installment loan for purchasing a major appliance.

C automobile loan from a credit union. The use of a bank credit card to make a purchase. Examples of open-end credit.

C automobile loan from a credit union. Linking a credit card with a business offering rebates on products and services. A good example of an open-end credit is A the use of a bank credit card to make a purchase.

Credit card accounts home equity lines of credit HELOC and debit cards are all common examples of open-end credit though some like the HELOC have finite payback periods. When obtaining open-end credit you may see this being offered as. A good example of an open-end credit is.

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