Which of the following is considered to be open-end credit?
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Open-end credit is a type of credit which allows the customer to borrow and repay up to a predetermined limit. It is also known as a revolving credit or an open line of credit. Common examples of open-end credit are credit cards and home equity lines of credit (HELOC). Under an open-end credit arrangement, the customer can make purchases up to the credit limit, and repay the balance over time, typically with interest.