Answer :
While they were still married, Judi and Phil shared a Visa credit card. They have since separated. Judi and Phil are both accountable for the remaining balance due on the Visa card.
What sort of credit is deemed open-ended?
Open-end credit is a pre-approved loan given to a borrower by a financial institution that can be repaid at any time. With open-end loans, such as credit cards, the borrower has the option to take out additional borrowing once the balance has begun to be repaid, indicating that the loan is revolving.
Which circumstance is most likely to result in a higher credit card interest rate?
Availability and demand. The supply and demand of credit affect interest rate levels: as the demand for credit declines, interest rates rise. Conversely, when the demand for credit rises, rates fall.
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