How Credit Works

Question 4 • ***CPS Online Personal Finance fall – 3-2027

Open-end credit is

Answer

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

pledged to a company as security for a loan repayment.

an amount of time during which a loan can be repaid without interest.

an agreement with an institution on a certain amount that can be repeatedly borrowed.

How Credit Works

Mortgages and Home Ownership

3.7 How Credit Works