A good example of open-end credit is:
A)the use of a bank credit card to make a purchase.
B)a mortgage loan from a savings and loan institution.
C)an automobile loan from a credit union.
D)an installment loan from a furniture store.
E)an installment loan for purchasing a major appliancE.

Question

Quizplus · Accepted Answer

The use of a bank credit card is a good example of open-end credit, as it allows the borrower to make purchases as needed, up to a credit limit, and pay back the borrowed amount over time, with interest.

A Good Example of Open-End Credit Is