Which of the following is NOT an example of closed-end credit?

Closed-end credit refers to a type of credit that is provided for a specific amount and for a specific time period, where the borrower must make regular payments to pay off the loan by the end of the term. This type of credit typically does not allow the borrower to borrow again without reapplying after the loan has been fully paid off.

In the context of the provided options, credit cards do not fit into this closed-end category. Instead, they are an example of open-end credit, which allows borrowers to access a line of credit repeatedly up to a certain limit. This means the borrower can charge purchases, make payments, and charge again, leading to a revolving balance that can vary each month.

On the other hand, home mortgage loans, automobile loans, and home improvement loans are all examples of closed-end credit because they involve a set loan amount that must be repaid over a fixed term with scheduled payments until the balance is zero. After the loan is fully repaid, should additional funds be needed, a borrower would have to seek a new loan rather than continue borrowing against a credit line, as is the case with credit cards.