Question

Anya runs a dog wash and spa service. She has to purchase basic, low-cost work supplies on a regular basis. She budgets a specific amount of money to buy these goods each month. Which type of credit would be most helpful and least risky for her?a. Installment creditb. Secured credit cardc. Service creditd. Bank loan

Answer 1

Answer:

B. Secured Credit Card

Explanation:

A secured credit card is a type of credit card whereby the user is required to pay a refundable security deposit which the issuer of the credit card holds as a collateral until the account is closed. This is the type of credit that Anya needs because she already had a specific amount in her budget which she can use as a security deposit to obtain the credit.