tifxxn tifxxn
  • 23-05-2018
  • Business
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which of the following types of credit would best describe credit cards?

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hisroyal1
hisroyal1 hisroyal1
  • 23-05-2018
Revolving credit is open.
Most credit cards are unsecured.

The answer should be OPEN AND UNSECURED

A person using an unsecured credit card is not spending his own money right away whenever he uses the credit card. Instead, he is borrowing money from his/her bank; more like he/she takes out a loan whenever the card is used, which he is expected to pay back so as to maintain a trustworthy credit history.
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