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Check Credit

 
Banking Dictionary: Check Credit

Unsecured revolving line of credit, often used as a substitute for bank credit cards. Check credit functions as a cash advance against a bank card line of credit, but the drafts are processed as checks. Check credit may be a Cash Reserve line of credit, or a special set of drafts that access a credit line. See also Overdraft.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more