open end credit is brainly

Open-end credit also called revolving credit can be defined as a line of credit that gives the borrower a certain limit of credit and the ability to frequently borrow as little or. One example of open end credit is credit.

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With open-end or revolving credit loans are made on a continuous basis as you purchase items and you are billed periodically to make at least partial payment.

. Open-end credit is not restricted to a specific. Open end credit is brainly Thursday June 2 2022 Edit. Closed-end credit is a type of credit that must be paid off on a specific date.

Open-end credit is a type of credit that can be borrowed on a regular basis as long as consistent. This has varying payment depending on how much you spend. What S The Difference Between Credit Debit Cards Huntington Bank.

Closed-end credit includes debt instruments that are acquired for a particular purpose and a set amount of time. A right to borrow up to a specified amount of money and where you are billed periodically based on the actual amount borrowed. Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back.

Open end credit is when a borrower can spend up to a certain amount. Open credit that you can get more credit you can show it. What is the difference between open-end credit and closed-end credit Brainly.

Provide An Example Of A Open End Credit. Close-end credit is a credit arrangement in which the borrower must repay the amount owned plus. Open-end credit A last resort legal process in which some or all of the assets of a debtor are distributed among creditors because the debtor is unable to pay hisher debts bankruptcy.

Difference between the closed-end and the opened-end credit - 6581253. An arrangement to receive cash goods. Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back.

What is the difference between closed-end credit and open-end credit.

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