Which of the following is an example of a non-bank credit option?

• A. Personal loan from a commercial bank
• B. Credit card issued by a retail store
• C. Certificate of deposit from a bank
• D. Savings account with a credit union

Answer: (B)

Verified step by step guidance

1. Understand the concept of non-bank credit options: These are credit facilities provided by entities other than traditional banks, such as retail stores, online lenders, or other financial institutions.
2. Analyze each option provided in the question: Determine whether the credit option is issued by a traditional bank or a non-bank entity.
3. Option 1: 'Personal loan from a commercial bank' - This is a bank credit option because it is issued by a commercial bank.
4. Option 2: 'Credit card issued by a retail store' - This is a non-bank credit option because it is issued by a retail store, not a traditional bank.
5. Option 3 and 4: 'Certificate of deposit from a bank' and 'Savings account with a credit union' - Both are financial products offered by banks or credit unions, not non-bank credit options.