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What is the difference between installment debt and revolving debt 2024?

Benjamin King | 2023-05-07 09:36:47 | page views：1395
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Emily Campbell

Studied at University of California, Los Angeles (UCLA), Lives in Los Angeles, CA
The amount of the loan is determined at the time you're approved, and the sum you've borrowed doesn't change over time. Examples of installment credit include mortgages and car loans. Revolving credit is not issued in a predetermined amount.
2023-05-11 09:36:47
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Felix Davis

QuesHub.com delivers expert answers and knowledge to you.
The amount of the loan is determined at the time you're approved, and the sum you've borrowed doesn't change over time. Examples of installment credit include mortgages and car loans. Revolving credit is not issued in a predetermined amount.
Is Revolving Debt Worse for Your Credit Score Than Installment Debt?
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