a good example of an open-end credit is

One of the reasons why an open-end credit is preferred is that it makes money available to borrowers if and when it is needed. Credit cards and a home equity line of credit or HELOC are examples of open-end loans.

Open End Credit Examples Open End Credit This Is A Type Of Credit Loan Paid On Installments In Which The Total Amount Borrowed May Change Over Time Course Hero

A good example of open end credit is a the use of a.

. A good example of an open-end credit card is. A good example of an open end credit is A the use of a bank credit card to make. A good example of an openend credit is A.

C automobile loan from a credit union. A good example of an open-end credit is A the use of a bank credit card to make a purchase. An open-end credit solves this difficulty by making credit available for usage as and when needed rather than expecting the borrower to complete repayments by a fixed date.

A good example of an open end credit is Select one a automobile loan from a. Credit cards personal lines of credit and home equity lines of credit are examples of open-end credit. School Fortis Institute Forty Fort.

Open-end credit also called revolving credit can be defined as a line of credit that gives the borrower a certain limit of credit and the ability to frequently borrow as little or as. In order to pay the credit cards youll have to pay off 50000 in debt. Revolving credit accounts are also known as open-end credit agreements.

Borrowers with an open-end credit account can make repeated. A good example of open end credit is a the use of a bank credit card to make a. Business Economics Microeconomics FP 100.

A good example of an open end credit is select one a. Study with Quizlet and memorize flashcards containing terms like A good example of an open-end credit is. Home equity lines of credit HELOC and credit cards on the other hand are examples of open-end credit.

Borrowers benefit from open-end loan arrangements because they have more flexibility. The mortgage loan from a savings and loan institution. Automobile loan from a credit.

A good example of an open end credit is a the use of. B the mortgage loan from a savings. Course Title FIN 202.

School Southeastern Louisiana University. A installment loan from a furniture store. Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back.

Lets say that you have 50000 in credit card debt. A All of the choices are correct. Expert solutions for 11.

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. School University of Guelph. B the mortgage loan from a savings and loan institution.

Advantages of Open Credit. A good example of an open-end credit is A. The use of a bank credit card to make a purchase.

This is a very simple example but it can easily be.

Best Balance Transfer Credit Cards 0 Apr Up To 2024 Wallethub