Which of the following would NOT be considered to be an example of open-ended credit?
A) A gasoline credit card.
B) A VISA card.
C) A real estate mortgage.
D) A department store credit card.

Question

Quizplus · Accepted Answer

Open-ended credit allows a borrower to make repeated transactions up to a certain credit limit, and repay over time, often requiring a minimum payment each period. Examples include credit cards and lines of credit. A real estate mortgage, however, is a closed-ended credit, where the borrower receives the entire loan amount upfront and repays it over a fixed period, without the ability to borrow more without refinancing or taking a new loan.

Which of the Following Would NOT Be Considered to Be