The correct answer is:
Installment loans have a fixed term and monthly payment, revolving credit is a credit line that is paid off and used again.
Which is the biggest difference between an installment loan and revolving credit?
(1 point)
Installment loans can be either unsecured or secured.
Installment loans have a fixed term and monthly payment, revolving credit is a credit line that is paid off and used again.
Qualification for revolving credit does not require credit scores and credit reports.
Revolving credit is always unsecured.
1 answer