line of credit


line of credit
noun
the maximum credit that a customer is allowed
Hypernyms: ↑credit
Hyponyms: ↑consumer credit

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: an amount up to which a financial institution will extend credit to a borrower

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line of credit noun
The maximum amount of credit that a customer is permitted
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Main Entry:line

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line of credit,
the quantity of credit granted by a store or bank to one of its customers.

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an amount of credit extended to a borrower

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noun, pl lines of credit [count]
: an amount of money that a person is allowed to borrow

a line of credit of up to $100,000

called also credit line

Useful english dictionary. 2012.

Look at other dictionaries:

  • line of credit — line of credit: an agreement specifying the maximum amount of credit allowed a borrower Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. line of credit …   Law dictionary

  • line of credit — n. 1. a declaration by a bank that it will extend credit to a borrower up to a specified maximum amount 2. the maximum amount so specified * * * …   Universalium

  • line of credit — n. 1. a declaration by a bank that it will extend credit to a borrower up to a specified maximum amount 2. the maximum amount so specified …   English World dictionary

  • Line of credit — Finance Financial markets Bond market …   Wikipedia

  • line of credit — A type of credit facility. The specific meaning of the term varies from bank to bank. Since the various uses often cause confusion, two definitions are presented here. In this book, the second definition is used. (1) A type of loan that permits a …   Financial and business terms

  • Line of credit — An informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain. The New York Times Financial Glossary * * * line of credit ˌline of ˈcredit noun lines of credit… …   Financial and business terms

  • line of credit — /ˌlaɪn əv kredɪt/ noun 1. the amount of money made available to a customer by a bank as an overdraft ♦ to open a line of credit or a credit line to make credit available to someone 2. the borrowing limit on a credit card …   Dictionary of banking and finance

  • line of credit — line′ of cred′it n. bus credit line 2) • Etymology: 1955–60 …   From formal English to slang

  • line of credit — noun a) A financial agreement under which a bank or other lender agrees to provide a client with loans of money up to an approved limit during a predefined period. The client may borrow the entire credit amount all at once or in portions during… …   Wiktionary

  • line of credit. — See credit line (def. 2). [1955 60] * * * …   Universalium