Another name for credit when loans are made on a continuous basis and borrower is billed periodically for at least partial payment is known as:
A)a line of credit.
B)convenience credit.
C)revolving credit.
D)installment credit.
E)bank card credit.

Question

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Revolving credit is a type of credit that allows borrowers to make multiple purchases or withdrawals up to a pre-approved credit limit. The borrower is billed periodically for at least a partial payment, and they can choose to pay the balance in full or minimum payments over time. This type of credit is sometimes called a line of credit, but technically a line of credit can refer to other types of credit arrangements as well. Convenience credit refers to credit that is offered as a convenience to customers in order to facilitate purchases, but does not necessarily involve a continuous billing cycle. Installment credit refers to loans that are repaid in fixed, regular payments over a set time period. Bank card credit refers specifically to credit that is extended through a bank-issued credit card.

Another Name for Credit When Loans Are Made on a Continuous