Ask Question
BusinessBusiness
3 April, 12:20

Which describes the difference between a personal loan and a credit card

+1
Answers (2)
  1. 3 April, 12:27
    0
    A personal loan is for a fixed amount, with some form of collateral, like a house or car. A credit card is also for a set amount, but no collateral.
  2. 3 April, 12:49
    0
    I believe the answer is: Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow

    In personal loan, the amount of loan and interest rate that the borrower have to pay would stay the same regardless if that borrower use the money or not.

    In Credit card, the borrower only required to pay the amount that they use plus interest rate.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which describes the difference between a personal loan and a credit card ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The flow of information and ideas from one person to another involving a sender method of transmitting the idea or content and receiver is best known as interpersonal ability
Answers (1)
On July 8th, Jones Inc. issued an $80,000, 6 %, 120-day notes payable to Miller Company, Assume that the fiscal year of Jones ends July 31.
Answers (1)
An account payable is: A) debt minus equity B) money the company owes a bank for funds it has borrowed C) money owed to the company by a customer when the customer makes a purchase on credit D) money owed by the company to a supplier when the
Answers (2)
Stormy Weather has no attractive investment opportunities. Its return on equity equals the discount rate, which is 10%. Its expected earnings this year are $4 per share.
Answers (1)
Adams Inc. has the following dа ta: rRF = 5.00%; RPM = 6.00%; and b = 1.05. What is the firm's cost of common from reinvested earnings based on the CAPM?
Answers (1)
New Questions in Business
One day a supplier supplied 300 units of a good at $20 per unit. A week later the same supplier supplied the same number of units at $10 per unit. Based on this evidence the supplier has experienced: a a decrease in quantity supplied.
Answers (2)
The aims of mercantilists do not include a. achieving power and wealth for the state. b. achieving political and economic unity
Answers (1)
In Japan, it's called kuroi kiri (black mist), in Germany, it's schmiergeld (grease money), Mexicans refer to la mordida (the bite), the French say pot-de-vin (jug of wine), and Italians speak of the bustarella (little envelope).
Answers (1)
Businesses that engage in ultrahazardous activities are strictly liable for any injuries. a. True b. False
Answers (1)
Increasing the amount of credit that is available within an economy is done through? Expansionary monetary policy or contractionary?
Answers (2)
Home » Business » Which describes the difference between a personal loan and a credit card
Sign Up Forgot Password?