Which of the following types of credits would best describe credit cards? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured select the best answer from the choices provided a b c d

The answer for this question is: D

Credit cards are often open and unsecured. This means that before issuing an unsecured credit card you do not have to put down and security deposit. In other words no collateral is required. This is one of the reasons that credit cards are only issued to customers with a good credit history, in which the bank has confidence that they will pay back their debts in the time allotted.