Some Companies Promote and Issue Their Own Private Label Credit

question 209

True/False

Some companies promote and issue their own private label credit cards.

---

Definitions:

Charter Business

A company that operates under a charter, offering specified services or engaging in a particular type of business, often subject to special regulations or privileges.

Secured Loan

A loan backed by collateral, providing the lender a right to claim the asset if the borrower defaults on the loan.

Priority

The order in which rights, obligations, or claims are ranked or considered, often in a legal context.

Default

Failure to fulfill a duty or obligation, typically in the context of financial agreements such as failing to make loan payments.