Sample Response: Closed-end credit is a form of credit that must be paid off by a specific date. Open-end credit is an amount of credit that can be borrowed repeatedly as long as consistent payments are made according to the bank’s terms. The cost of these types of credit are fees and interest rates charged by the lender. Check each statement included in your response.Closed-end credit is a form of credit that must be paid off by a specific date. Open-end credit can be borrowed against over and