A personal line of credit is a form of closed-end credit.

Name: A personal line of credit is a form of closed-end credit.
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A personal line of credit is a form of open-end credit, which allows the borrower to borrow and repay funds on an as-needed basis without having to reapply each time. Closed-end credit, on the other hand, provides a specific loan amount that is repaid over a fixed period of time with pre-determined payments.

A Personal Line of Credit Is a Form of Closed-End