Using a credit card,such as Visa or MasterCard,is an example of closed-end credit.

Name: Using a credit card,such as Visa or MasterCard,is an example of closed-end credit.
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Using a credit card is actually an example of open-end credit, where borrowing is ongoing and the amount borrowed can vary from month to month. Closed-end credit typically involves borrowing a specific amount of money for a set period of time, such as a car loan or mortgage.

Using a Credit Card,such as Visa or MasterCard,is an Example