A credit card is a type of:
Understand the Problem
The question is asking what category a credit card belongs to among multiple financial options. The user needs to identify the correct classification of a credit card from the provided choices.
Answer
loan or borrowing.
The final answer is loan or borrowing.
Answer for screen readers
The final answer is loan or borrowing.
More Information
Credit cards are considered a type of revolving debt, meaning they allow for ongoing borrowing up to a certain limit, similar to a loan.
Tips
Avoid confusing credit cards with savings or checking accounts; they are distinct financial tools.
Sources
- What Is A Credit Card? | Bankrate - bankrate.com
- Credit card - Wikipedia - en.wikipedia.org
- What Is a Credit Card? Types, How They Work, & Example - highradius.com
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