What is the most common form of open-end credit? mortgages lump-sum credit credit cards installment sales credit?

The most common form of open-end credit is credit cards. They can be through a certain store, such as Macy's or Victoria's Secret or through a specific bank like HSBC or Chase.

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Tabbey Tabbey · Answer 2 · 2019-05-16T15:49:26+02:00

Answer: Credit cards

Credit cards are the most common form of open-end credit.

Explanation:

Credit cards refer to a card issued by a financial institution which allows a cardholder to borrow money against a line of credit. It enables the cardholder to make basic transaction at the point of sale. It also refers to using borrowed funds from bank to make purchases with the use of the card. Cardholders must pay back the borrowed money with interest and any additional agreed-upon charges.