Credit Offered in the Form of _____ Is Most Common in Department

question 30

Multiple Choice

Credit offered in the form of _____ is most common in department and clothing stores and other high-volume outlets, where customers are likely to make several purchases each month.

• A) collateralized credit cards
• B) reward credit cards
• C) affinity cards
• D) retail charge cards
• E) student credit cards

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Definitions:

Identified

Singled out or recognized from among others.

Existing

Currently present or in existence.

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid over a specified period.

Entrusts

To give someone the responsibility to take care of something or act on one's behalf.