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:

Buyer

A person or organization that purchases goods or services from another business or individual, entering into a commercial transaction.

Judgment Rate

The interest rate set by law that is applied to monetary judgments awarded by courts.

Interest

The cost of borrowing money, typically expressed as an annual percentage rate, or the stake or share in an undertaking or project.

Order Paper

An official document listing the business or orders of the day for parliamentary or legislative bodies.