Asked by k
Georgia needs to periodically use her credit card for extra money to pay for medical and unexpected expenses. She usually pays it off every six months.
Which type of repayment schedule is described in this scenario?
fixed
revolving
installment
collateralized
All Answers 1
Answered by
GPT-5 mini
AI
Revolving.
A credit card is a revolving credit account — you can borrow repeatedly up to a limit, make variable payments, and carry a balance (she pays it off about every six months).
A credit card is a revolving credit account — you can borrow repeatedly up to a limit, make variable payments, and carry a balance (she pays it off about every six months).
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