an example of open-end credit is a(n) ____
A department store credit card. A good example of an open-end credit is A the use of a bank credit card to make a purchase.
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A department store credit card c.
. How should a card holder begin to correct a mistake on a credit card bill. Open-end loans can also take the form of credit cards or home equity lines of credit. A good example of an open-end credit is A.
With a closed-end loan you borrow a specific amount of money. An open credit is a financial arrangement between a lender and a borrower that allows the latter to access credit repeatedly up to a specific maximum limit. E installment loan for purchasing a major appliance.
D installment loan from a furniture store. This problem has been solved. Open end Credit is the name of a previously approved line of credit between a Financial Company and its borrowers.
Credit is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given time period. Another source of credit is credit card companies like visa mastercard American express and discover. Open credit is a type of credit that requires full payment for each period such as per month.
In revolver debt the borrower has constant credit access up to the maximum. Which of the following is an example of open-end credit. B the mortgage loan from a savings and loan institution.
A common type of open-end loan is a line of credit. Another source of credit is credit card companies like visa mastercard American express and discover. Credit card accounts home equity lines of credit HELOC and debit cards are all common examples of open-end credit though some like the HELOC have finite payback periods.
A mortgage is an example of closed-end credit. The use of a bank credit card to make a purchase. A department store credit card.
View the full answer. An example of closed end credit is a car loan. What is Credit.
To better understand open-end credit it helps to know what closed-end credit means. C automobile loan from a credit union. 30 examples of open-ended questions.
A mortgage loan d. Which of the following is an example of open-end credit. 147 Which of the following is an example of open-end credit.
Experts are tested by Chegg as specialists in their subject area. With open-end loans borrowers can spend money up to a. The most common Open End is the Credit Card.
A good example of an open-end credit is A the use of a bank credit card to make a purchase. Installment loan from a furniture store. How Does Credit Work.
Installment loan for purchasing a major appliance. A Single lump sum of credit B An installment loan for purchasing furniture C A mortgage loan D A department store credit card E An automobile loan. A direct loan for personal purposes home improvements or vacation expenses is called a.
Interest is typically charged on the outstanding balance. The issuing bank. Asking open-ended questions will produce feedback that explains what kind of experience a customer had with your company.
An automobile loan b. Open End Credit This is a type of credit loan paid on installments in. In the consumer market home equity loans are an example of an open-end credit which allows homeowners to access funds based on the level of equity in the homes.
An example of open-end credit is an a credit card charge. Credit cards and home equity lines. View Test Prep - Open End Credit examples from MATH 140 at Colorado Technical University.
Closed end credit has a set payment amount every month. E installment loan for purchasing a major appliance. A ____ of credit is an example of an open-end credit.
If youre looking for answers that give you an in-depth look at the quality of your products and customer service open-ended questions are usually more helpful. You can borrow up to a maximum amount similar to a credit card limit but you are required to pay the funds borrowed in full at the end of each period. B the mortgage loan from a savings and loan institution.
Open-end credit is distinguished from closed-end credit based on how the loan is provided to the borrower and whether or not the borrower can take the funds out again. One source of credit is retail stores which are department stores macys neiman marcus that will give you a card that you can use only at that store. But also Home equity is another line open end example.
An example of conventiona. D installment loan from a furniture store. The mortgage loan from a savings and loan institution.
The total dollar amount you pay to use credit is the. Installment loan for purchasing furniture D. Closed end credit is a loan for a stated amount that must be repaid in full by a certain date.
AAn automobile loan BA department store credit card CAn installment loan for purchasing furniture. Some of the examples are credit cards home equity loans personal lines of credit and overdraft protection on checking accounts. A direct loan for personal purposes home improvements or vacation expenses is called.
Credit Card or Loan. Credit card of credit. Department store credit card C.
In the accounting world a credit is also a journal entry reflecting an increase in assets. Notify the creditor in writing. C automobile loan from a credit union.
Who are the experts. Laminiaduo7 and 9 more users found this answer helpful. Which of the following is an example of open-end credit.
Examples of an Open-End Loan. Automobile loan from a credit union. An example of open-end credit is mortgage loans as there are specific open end mortgage loans available so correct option will be C mortgage loans Automobile loans and revolving check credit are closed ended loans.
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