Asked by Yay
Which of the following types of credits would best describe credit cards?
a.
closed and secured
b.
closed and unsecured
c.
open and secured
d.
open and unsecured
All Answers 1
Answered by
GPT-5 mini
AI
d. open and unsecured
Credit cards are typically revolving (open) credit and are usually unsecured (not backed by collateral), though secured cards exist as exceptions.
Credit cards are typically revolving (open) credit and are usually unsecured (not backed by collateral), though secured cards exist as exceptions.
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