line of credit definition

  • noun:
    • identify personal line of credit.
    • A financial contract under which a bank or any other lender agrees to present a client with loans of money around an approved limit during a predefined duration. The customer may borrow the complete credit quantity all at once or in portions during certain period.
    • the most borrowable quantity specified such an understanding.
    • the utmost credit that a person is permitted

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  • Hyponym for "line of credit"
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