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Line of Credit

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credit line

 
–noun
1. a line of text acknowledging the source or origin of published or exhibited material.
2. Also called credit limit, line of credit. the maximum amount of credit that a customer of a store, bank, etc., is authorized to use.

Origin:
1910–15
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source Link To Line of Credit
credit line  
n.  

  1. A line of copy acknowledging the source or origin of a news dispatch, published article, or other work.

  2. The maximum amount of credit to be extended to a customer. Also called line of credit.

line of credit  
n.   pl. lines of credit
See credit line.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Line of Credit - LOC

An arrangement between a financial institution (usually a bank) and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.

Investopedia Commentary

The advantage of a line of credit over a regular loan is that you usually don't pay interest on the part of the line of credit that you don't use.

See also: Credit, Interest, Loan, Open End Credit

Also spelled: LOC

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Financial Dictionary

credit line

See line of credit.


line of credit

A credit arrangement in which a financial institution agrees to lend money to a customer up to a specified limit. A line of credit, generally arranged before the funds are actually required, provides flexibility for the customer in that it ensures the ability to meet short-term cash needs as they arise. Also called bank line, credit line, revolver, revolving credit agreement.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: line of credit
: an agreement specifying the maximum amount of credit allowed a borrower
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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