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explain revolving credit and give one example, then explain non-revolving credit and give one example.

User Csupnig
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Answer:

Revolving credit, as its name suggests, is intended to be more flexible. As long as you adhere to your credit terms, you can use it for a range of purchases. Non-revolving credit frequently has lower interest rates and consistent repayment schedules because it is typically utilized for a specific purpose, like a car loan or student loan.

User Kyle A
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