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What type of credit permits consumers repeated transactions and then assesses a finance charge on any unpaid balances?Multiple ChoiceAccelerated creditA closed-end credit lineAn open-end credit linePre-approved creditLending of last resort

Question

What type of credit permits consumers repeated transactions and then assesses a finance charge on any unpaid balances?Multiple ChoiceAccelerated creditA closed-end credit lineAn open-end credit linePre-approved creditLending of last resort

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Solution

The type of credit that permits consumers repeated transactions and then assesses a finance charge on any unpaid balances is An open-end credit line.

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