Trish is applying for a store credit card. If she gets approved, what type of loan will it most likely be?
The answer is - REVOLVING CREDIT
A revolving credit refers to a bank that offers an always available loan to an individual or any corporation for an undetermined amount of time.
The debt is repaid periodically and when the debt is repaid, a credit is automatically renewed and can be borrowed again. Examples are - retail store card or gas card.
