ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gift card
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Store credit card
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Gas Card
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Visa Card
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Detailed explanation-1: -What is non-revolving credit? Non-revolving credit is a term that applies to debt you pay back in one installment, such as a student loan, personal loan or mortgage. Unlike revolving debt, you are not continuously adding to the original amount of the debt. Once you pay off the loan, you no longer owe the creditor.
Detailed explanation-2: -The most common types of revolving credit are credit cards, personal lines of credit and home equity lines of credit.
Detailed explanation-3: -Two of the most common types of revolving credit come in the form of credit cards and personal lines of credit. Some examples of revolving credit include unsecured and secured credit cards.
Detailed explanation-4: -Rewards credit cards. Secured credit cards. Low-interest credit cards. Cashback credit cards.