For an open-end credit account,a credit limit is set by the lender and represents the maximum outstanding debt allowed on the account.

Name: For an open-end credit account,a credit limit is set by the lender and represents the maximum outstanding debt allowed on the account.
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Question

Quizplus · Accepted Answer

This is correct. An open-end credit account has a credit limit set by the lender, which represents the maximum outstanding debt allowed on the account.

For an Open-End Credit Account,a Credit Limit Is Set by the Lender