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A personal loan is different from a credit card in all of the following except it

A) is normally used to finance one large purchase.
B) has a specific repayment schedule.
C) can be used only once.
D) has a longer grace period.

User Flashk
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Final answer:

Both personal loans and credit cards can be used for purchases, but they differ in terms of repayment schedules, usage, and grace periods.

Personal loans are typically used for a single large expense and have set repayment terms, whereas credit cards can be used multiple times and often have a grace period for interest accrual.

Step-by-step explanation:

A personal loan is different from a credit card in several ways, but they do not differ in terms of being used only once. Both a personal loan and a credit card are forms of credit used to purchase goods and services.

A personal loan is normally used to finance one large purchase, has a specific repayment schedule, and is different from a credit card, which can be used repeatedly up to its credit limit.

Unlike personal loans, credit cards usually offer a grace period during which you can pay off your balance without incurring interest, while personal loans start accruing interest immediately.

User Hitesh Bavaliya
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