A good example of an open-end credit is
A)the use of a bank credit card to make a purchase.
B)the mortgage loan from a savings and loan institution.
C)automobile loan from a credit union.
D)installment loan from a furniture store.
E)installment loan for purchasing a major appliance.

Question

Quizplus · Accepted Answer

Open-end credit allows for borrowing up to a certain credit limit and paying it back over time. Credit cards are a common example of open-end credit, as the borrower can use the card for various purchases up to the credit limit and then make payments over time.

A Good Example of an Open-End Credit Is