which describes the difference between a personal loan and a credit card?\ncredit cards offer lump sums of…

which describes the difference between a personal loan and a credit card?\ncredit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow\ncredit cards are secured loans for large amounts, while personal loans are unsecured for small purchases\npersonal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow\npersonal loans are secured for small purchases, while credit cards are unsecured loans for large amounts

which describes the difference between a personal loan and a credit card?\ncredit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow\ncredit cards are secured loans for large amounts, while personal loans are unsecured for small purchases\npersonal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow\npersonal loans are secured for small purchases, while credit cards are unsecured loans for large amounts

Answer

Brief Explanations:

Personal loans give a single - time lump sum amount. Credit cards set a credit limit (maximum amount one can borrow). Credit cards are often unsecured and used for various purchases, while personal loans can be for different purposes too but come as a lump sum.

Answer:

C. Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow