Definitions for line of credit
line of cred·it

Princeton's WordNetRate this definition:0.0 / 0 votes

1. credit line, line of credit, bank line, line, personal credit line, personal line of creditnoun

   the maximum credit that a customer is allowed

WiktionaryRate this definition:0.0 / 0 votes

1. line of creditnoun

   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.

2. line of creditnoun

   The maximum borrowable amount specified in such an agreement.

WikipediaRate this definition:0.0 / 0 votes

1. Line of credit

   A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A line of credit takes several forms, such as an overdraft limit, demand loan, special purpose, export packing credit, term loan, discounting, purchase of commercial bills, traditional revolving credit card account, etc. It is effectively a source of funds that can readily be tapped at the borrower's discretion. Interest is paid only on money actually withdrawn. Lines of credit can be secured by collateral, or may be unsecured. Lines of credit are often extended by banks, financial institutions and other licensed consumer lenders to creditworthy customers (though certain special-purpose lines of credit may not have creditworthiness requirements) to address fluctuating cash flow needs of the customer. The maximum amount of funds a customer is allowed to draw from a line of credit is typically called the credit limit or overdraft limit. The term credit limit is commonly used for credit cards whereas the term overdraft limit is more commonly used for bank accounts.

ChatGPTRate this definition:0.0 / 0 votes

1. line of credit

   A line of credit is a flexible loan from a bank or financial institution that allows an individual, business, or other entity to borrow money up to a certain limit. It can be accessed at any time and offers a given amount of money that the borrower can use and repay as needed. The interest is charged only on the amount of money actually borrowed, not on the full credit limit. It's similar to a credit card, providing a source of funds that can be borrowed, repaid, and borrowed again.

WikidataRate this definition:0.0 / 0 votes

1. Line of credit

   A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of commercial bills, traditional revolving credit card account, etc. It is effectively a source of funds that can readily be tapped at the borrower's discretion. Interest is paid only on money actually withdrawn. Lines of credit can be secured by collateral, or may be unsecured. Lines of credit are often extended by banks, financial institutions and other licensed consumer lenders to creditworthy customers to address liquidity problems; such a line of credit is often called a personal line of credit. The term is also used to mean the credit limit of a customer, that is, the maximum amount of credit a customer is allowed.

Matched Categories

1. • Credit

How to pronounce line of credit?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say line of credit in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of line of credit in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of line of credit in Pythagorean Numerology is: 3

Examples of line of credit in a Sentence

1. Nina Hatvany:

   With a lot of all-cash offers, buyers are borrowing the money, they just aren't borrowing it against this property, they may well be using a margin account from stocks. They may be borrowing expected liquidity and getting a line of credit. Or their parents may be lending them a couple million dollars.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=line of credit
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Line_of_Credit
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Line_of_Credit
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=line of credit