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credit line

 
Dictionary: 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.

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Accounting Dictionary: Credit Line
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Specified amount of money available to a borrower from a bank usually for one year. A credit line is a moral, not a contractual, commitment, and no commitment fee is charged. Compensating balances, though, are commonly required-10% of the line plus 10% of amounts borrowed under the line. There are confirmed lines of credit and guidance lines, the former being documented by a letter to the depositor, the latter being an internal limit observed by the bank. Credit lines contrast with revolving credits, which are contractual and involve a commitment fee.

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Note: click on a word meaning below to see its connections and related words.

The noun has one meaning:

Meaning #1: the maximum credit that a customer is allowed
  Synonyms: credit line, line of credit, line, personal credit line, personal line of credit


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Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.  Read more
Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved.  Read more
WordNet. WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved.  Read more