Which of the following loans is not typically considered an installment loan?

An installment loan is characterized by a fixed repayment schedule consisting of regular payments over a predetermined period. This structure allows borrowers to repay the principal and interest in equal installments until the loan is fully paid off.

Credit cards, on the other hand, operate differently. They are considered revolving credit, meaning they do not have a fixed repayment term or specific monthly payment amount. Borrowers can draw from their credit limit repeatedly and are only required to make a minimum payment each month based on the outstanding balance. This flexibility allows for fluctuating balances and payments, which deviates significantly from the structure of installment loans, where payments are consistently fixed over the life of the loan.

In contrast, mortgage loans, personal loans, and car loans are all typical examples of installment loans since they involve set amounts borrowed with regular, equal payments, and fixed terms. Thus, credit cards are the correct choice for not being considered an installment loan.