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Which describes the difference between a personal loan and a credit card?

Credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow.
Credit cards are secured loans for large amounts, while personal loans are unsecured for small purchases.
Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow.
Personal loans are secured for small purchases, while credit cards are unsecured loans for large amounts.

Respuesta :

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

Explanation:

Loans are borrowed to enhance business or organization functions. Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow

What is personal loan?

personal loan are loans borrowed by an individual to pay for personal expenses, it is repaid with time.

It allows an individual to collect huge amount of money

What is Credit Card?

A credit card is a card own by an individual that allows you to borrow money within certain range or limits.

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

For more details on loan kindly check

https://brainly.com/question/25599836

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