Cards offered by a retailer that entitles the cardholder to unique benefits, such as discounts on purchases. Long-term loans which range in duration from 11 to 30 years. Payment terms are primarily monthly. Mortgages are offered through brokerage houses, agents and dealers. Revolving credit issued under a retailer's or manufacturer's name.
Consumers choose how much of the account balance to pay off each month, subject to minimum payments.
Closed-end personal loans issued with or without collateral. They are offered primarily through retail channels. Term loans range anywhere between 12 and 120 months, and there are often interest-free periods as well as no annual fees.