line of credit
Definition
An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period. also called credit line.
Related Terms
cash advance, overdraft protection, revolving line of credit
Related Research Articles from the InvestorGuide.com University
Credit Reports
Explains the concept of a credit report, and describes information found on a credit report, including identifying information, credit information, public record information, and inquiries.
Choosing a Credit Card
Trying to find the right credit card? Learn how to evaluate fees, perks, and the associated fees before making your decision.
Credit Cards
Learn how credit cards, despite the convenient and useful way to pay for products and services, also encourages excessive spending that lead to debt accumulation and high interest rates on the money owed. Understand why the use of credit cards is recommended only for those who intend to pay off the balance each month, and consider the types of credit cards carefully.
Trade free for 45 days + get $100.
Plus get straightforward, $9.99 Internet equity trades. Apply now.
|