Question

Which of the following types of credits would best describe credit cards? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured Please select the best answer from the choices provided A B C D

Answer 1

The answer for this question is: D

Credit cards are often open and unsecured. This means that before issuing an unsecured credit card you do not have to put down and security deposit. In other words no collateral is required. This is one of the reasons that credit cards are only issued to customers with a good credit history, in which the bank has confidence that they will pay back their debts in the time allotted.  

Answer 2

The best way to describe the nature of credits that credit cards are is d. open and unsecured.

What type of credit is a credit card?

A credit card is known to be open and unsecured type of credit which means that it can be used to move funds easily.

This is why credit cards are good for making a wide range of purchases and transactions, but can also have their details easily stolen.

Find out more on credit cards at https://brainly.com/question/1154957.

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