what is easy - access credit?\ncredit that is to be repaid in full by a specific date\na loan given for a…

what is easy - access credit?\ncredit that is to be repaid in full by a specific date\na loan given for a short period of time that is not dependent on credit history\nthe amount of money borrowed excluding accrued interest\nan amount of time during which a loan can be repaid without interest

what is easy - access credit?\ncredit that is to be repaid in full by a specific date\na loan given for a short period of time that is not dependent on credit history\nthe amount of money borrowed excluding accrued interest\nan amount of time during which a loan can be repaid without interest

Answer

Brief Explanations:

Easy - access credit is typically a short - term loan. It is often designed for quick financial needs. Credit history is not the main factor in obtaining it as it focuses more on immediate access.

  • Option 1: Credit to be repaid in full by a specific date is a general loan repayment condition, not specific to easy - access credit.
  • Option 2: A short - term loan not dependent on credit history fits the concept of easy - access credit.
  • Option 3: The amount of money borrowed excluding accrued interest is the principal, not related to the nature of easy - access credit.
  • Option 4: An amount of time for interest - free loan repayment is an aspect of loan terms, not the definition of easy - access credit.

Answer:

a loan given for a short period of time that is not dependent on credit history