a credit card is an example of which type of credit? revolving credit installment credit collateral credit…

a credit card is an example of which type of credit? revolving credit installment credit collateral credit unsecured credit clear all

a credit card is an example of which type of credit? revolving credit installment credit collateral credit unsecured credit clear all

Answer

Brief Explanations:

Revolving credit allows borrowers to repeatedly borrow up to a set credit limit, pay it back, and borrow again. Credit - cardholders can make purchases up to their credit limit, pay off part or all of the balance, and then make more purchases. Installment credit is for a fixed amount repaid in regular payments over a set period. Collateral credit requires an asset as security. Unsecured credit doesn't require collateral but is not the most specific classification for a credit card compared to revolving credit.

Answer:

A. Revolving credit