n.
- A line of copy acknowledging the source or origin of a news dispatch, published article, or other work.
- The maximum amount of credit to be extended to a customer. Also called line of credit.
| Dictionary: credit line |
| 5min Related Video: credit line |
| Accounting Dictionary: Credit Line |
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.
| WordNet: bank line |
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
| home-equity loan | |
| Check Credit (in banking) | |
| preapprove |
Copyrights:
![]() | Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. 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 |
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