Which of the following would NOT be considered to be an example of open-ended credit?
A) A gasoline credit card account
B) A VISA account
C) A real estate mortgage account
D) A department store credit card account

Question

Quizplus · Accepted Answer

Open-ended credit refers to a revolving line of credit that can be used repeatedly without having to reapply for credit each time. Real estate mortgages are not considered open-ended credit because they are typically structured as installment loans with a fixed repayment schedule. A gasoline credit card, VISA account, and department store credit card account are all examples of open-ended credit because they allow borrowers to make purchases and carry a balance from month to month.

Which of the Following Would NOT Be Considered to Be