Worksheets3 Types of Credit
Total questions: 10
Worksheet time: 5mins
What are the 3 types of credit?
revolving, pay as you go, open
revolving, installment, close
revolving, installment, open
revolving, free, installment
Revolving credit accounts usually come with assigned credit limits are subject to _________ charges and fees.
cash
late
finance
balance
Two examples of revolving credit are _____ and ______.
credit cards, personal lines of credit
payday loans, credit cards
home equity line of credit, mortgage
Installment credit is a loan for a ________ amount of money.
fixed
flex
finance
Common types of installment loans are ______________.
mortgage, personal and car loans
furniture, mortgage, and credit cards
mortgage, car, and utility accounts
Which credit type is the least common type of credit?
revolving credit
installment credit
open credit
Some examples of open credit are ______________.
utilities and car loans
furniture and cell phones contracts
utilities and cell phone contracts
credit cards and cell phone contracts
Select the credit category
revolving
installment
open
Select the category type for this picture
revolving
installment
open
A college loan would be classified as a ______________.
revolving account
installment account
open account
