which describes the difference between a personal loan and a credit card? credit cards offer lump sums of…

which describes the difference between a personal loan and a credit card? credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow. credit cards are secured loans for large amounts, while personal loans are unsecured for small purchases. personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow. personal loans are secured for small purchases, while credit cards are unsecured loans for large amounts.

which describes the difference between a personal loan and a credit card? credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow. credit cards are secured loans for large amounts, while personal loans are unsecured for small purchases. personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow. personal loans are secured for small purchases, while credit cards are unsecured loans for large amounts.

Answer

Answer:

C. Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow.

Brief Explanations:

Personal loans provide a one - time amount. Credit cards have a credit limit, allowing multiple small - to - medium purchases up to that limit.