We learned about the different types of credit. Cash credit, which is borrowing money. Sales credit, which is buying something and promising to pay for it later. Secured Credit, which is secured with collateral, unsecured credit, which is based off of your good credit score. Closed end, which is a one time deal. Open end, which is credit you can keep using. Single-Payment, which is you pay back in one time, and Installment credit, which is credit that you pay back monthly.
3 C's of Credit