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Definition of Line of credit
1. Noun. The maximum credit that a customer is allowed.
Exact synonyms: Bank Line, Credit Line, Line, Personal Credit Line, Personal Line Of Credit
Specialized synonyms: Consumer Credit
Generic synonyms: Credit
Specialized synonyms: Consumer Credit
Generic synonyms: Credit
Definition of Line of credit
1. Noun. (finance banking) 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 the specified period. ¹
2. Noun. (finance banking) The maximum borrowable amount specified in such an agreement. ¹
¹ Source: wiktionary.com