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A letter of credit or line of credit is a preapproved borrowing amount that works much like a ________.
a. premium loan
b. syndicated loan
c. credit card
d. discount loan

Respuesta :

The correct answer is option (C) Credit card.

A letter of credit or line of credit is a preapproved borrowing amount that works much like a Credit card.

What is Credit card ?

  • A letter of credit, or "credit letter," could be a letter from a bank ensuring that a buyer's installment to a dealer will be gotten on time and for the proper sum.
  • Within the occasion that the buyer is unable to create a installment on the buy, the bank will be required to cover the complete or remaining sum of the buy.
  • It may be advertised as a facility.
  • Due to the nature of universal dealings, including variables such as separate, varying laws in each nation, and trouble in knowing each party by and by, the utilize of letters of credit has gotten to be an awfully vital viewpoint of universal exchange.

To know more about Credit card visit:

https://brainly.com/question/1475993

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