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

Common types of closedend credit instruments include mortgages and car loans. Open-end credit is not restricted to a specific use or duration.

Ecfr Appendix H To Part 1026 Title 12 Closed End Model Forms And Clauses

An open-end loan for example a credit card is a pre-approved loan between a financial institution and a borrower that can be used repeatedly up to a certain limit and then.

. A good example of an open-end credit is. For example if a customer. A credit card charge Credit.

Click to see full answer. Revolving check credit b. 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.

Consequently what is an example of closed end credit. The use of a bank credit card to make a purchase. Credit card holders are known as convenience users.

An example of open end credit is A the use of a bank credit card to make a. With some forms of open-end credit theres no end date. An example of open-end credit is a.

Installment sales credit wwillis9519 is waiting for your help. A mortgage loan from a savings and loan institution. For example when a sale is made a customer could choose to pay with cash.

For example assume a borrower obtains a 200000 open-end mortgage to purchase a home. Revolving credit accounts are also known as open-end credit agreements. For example with a credit card you can repay your balance and reborrow as long as the card issuer allows you to continue using the.

Home equity lines of credit HELOC and credit cards on the other hand are examples of open-end credit. Study with Quizlet and memorize flashcards containing terms like An example of open-end credit is an ____. Which is the best example of open end credit.

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. Credit card accounts home equity lines of credit HELOCs and debit cards are all common examples of.

What Is Open End Credit How It Works Examples Pros And Cons Cash 1 Blog News

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