an example of open-end credit is a(n) ____

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. How Open-End Credit Works.

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How should a card holder begin to correct a mistake on a credit card bill.

. An example of open-end credit is an a credit card charge. A good example of an open-end credit is A the use of a bank credit card to make a purchase. Who are the experts.

Chapter 05 - Consumer Credit. We review their content and use your feedback to keep the quality high. In revolver debt the borrower has constant credit access up to the maximum.

Automobile loan from a credit union. 147 Which of the following is an example of open-end credit. 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.

View Test Prep - Open End Credit examples from MATH 140 at Colorado Technical University. Closed-end credit score rating debts permits big amount of cash becoming lent. As you repay what youve borrowed you can draw from the credit line again and again.

Another source of credit is credit card companies like visa mastercard American express and discover. C automobile loan from a credit union. Which of the following is an example of open-end credit.

B the mortgage loan from a savings and loan institution. The total dollar amount you pay to use credit is the. CEC loan or type of credit where the funds are dispersed in full when the loan closes and must be paid back including interest and finance charges by a specific date.

A direct loan for personal purposes home improvements or vacation expenses is called. A mortgage is an example of closed-end credit. To better understand open-end credit it helps to know what closed-end credit means.

Open End Credit This is a type of credit loan paid on installments in. A common type of open-end loan is a line of creditOpen-end loans can also take the form of credit cards or home equity lines of creditWith open-end loans borrowers can spend money up to a. A department store credit card.

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. Advantages Disadvantages Sources and Costs 68. E installment loan for purchasing a major appliance.

This problem has been solved. A direct loan for personal purposes home improvements or vacation expenses is called a. Open credit is a type of credit that requires full payment for each period such as per month.

D installment loan from a furniture store. A good example of an open-end credit is A the use of a bank credit card to make a purchase. Installment loan for purchasing a major appliance.

The mortgage loan from a savings and loan institution. Open-end credit and Closed-end credit. An arrangement for borrowing from a bank where money can be taken and paid back up to an agreed.

Notify the creditor in writing. Molly purchased a 1500 dishwasher from Best Appliances. Which of the following is an example of open-end credit.

With open-end credit you receive a credit line with a limit that you can draw from as needed only paying interest on what you borrow. Credit cards home equity loans personal lines of credit and bank account overdraft protection are all examples. E installment loan for purchasing a major appliance.

With a closed-end loan you borrow a specific amount of money. Department store credit card C. A line of credit is a type of open-end credit.

Examples of an Open-End Loan. 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. Which of the following is an example of open-end credit.

She will make 12 equal payments over the next year to pay for it. Under a line of credit agreement the consumer takes out a loan that allows payment for expenses using special checks or increasingly a plastic card. A department store credit card c.

The total amount due also incorporates any interest or repair fees accumulated throughout the length. Is a sort of credit that must be paid back in full. A ____ of credit is an example of an open-end credit.

Installment loan from a furniture store. Installment loan for purchasing furniture D. A department store credit card.

B the mortgage loan from a savings and loan institution. AAn automobile loan BA department store credit card CAn installment loan for purchasing furniture DA mortgage loan ESingle lump-sum credit. Credit card of credit.

D installment loan from a furniture store. Any sort of loan that allows you to make several withdrawals and repayments is known as open-end credit. The use of a bank credit card to make a purchase.

The loan may require regular principal and interest payments or it may require the full payment of. 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. Experts are tested by Chegg as specialists in their subject area.

Laminiaduo7 and 9 more users found this answer helpful. Closed-end credit score rating is a type of financing in which the borrower get the sum direct and it is required to pay back the loan after a collection timeframe. C automobile loan from a credit union.

A mortgage loan d. An automobile loan b. Common examples of open-end credit are credit cards and lines of credit.

A good example of an open-end credit is A.

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