Which of the following permits repeated transactions and assesses a finance charge on unpaid balances?

A) Open-end credit line
B) Closed-end credit line
C) Debt-based credit line
D) Uncollateralized credit
E) Collateralized credit

Open-End Credit Line

A flexible loan facility that allows borrowers to draw down, repay, and redraw loans up to a specified credit limit.

Finance Charge

The total cost of borrowing, including interest and any other charges assessed by the creditor on a loan or credit.

Unpaid Balances

Amounts owed that have not yet been paid, typically referring to outstanding debts or bills.