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the difference between installment credit and open ended credit is they are the same..
Yes, an installment loan is a perfect example of closed-end credit since the amount must be paid off in full by a specified date in the future. Good examples of installment loans traditionally include: auto loans, mortgages and unsecured personal loans.
Noninstallment credit is credit that is paid all at once, in a single payment. It is usually very short-term, and it doesn't usually make the borrower pay an interest rate.
installment credit
One can find information about bad credit installment loan on a number of webpages. Personal Loans 24/7 and FirstInstallmentLoans are examples of websites where one can find more information about bad credit installment loan.
the difference between installment credit and open ended credit is they are the same..
Yes, an installment loan is a perfect example of closed-end credit since the amount must be paid off in full by a specified date in the future. Good examples of installment loans traditionally include: auto loans, mortgages and unsecured personal loans.
Noninstallment credit is credit that is paid all at once, in a single payment. It is usually very short-term, and it doesn't usually make the borrower pay an interest rate.
installment credit
One can find information about bad credit installment loan on a number of webpages. Personal Loans 24/7 and FirstInstallmentLoans are examples of websites where one can find more information about bad credit installment loan.
12
1900
revolving installment and real estate credit
The earliest recorded form of installment credit in the United States dates back to the 1850s when sewing machine financing was introduced by the Singer Corporation.
Credit can be simply defined using three (3) aspects: * Secured (Collateralized) or Unsecured Credit (is there an asset positioned as a backstop to cover the debt if the borrower defaults) Example: Auto loan is secured by the car, a credit card is unsecured * Installment or Revolving Credit (is the loan fixed at a certain amount and paid back in similar installments over time or can the principal and payment of the loan change over time) Example: Auto loan is installment, home equity line of credit is revolving * Personal or Business Credit (is the business for an individual/family or for a business)
yes
open, revolving and installment