InvestorWords.com

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.

Featured Tip

How to Get Emergency CashWhen you urgently need cash, check out options for emergency cash from banks. Many banks offer reasonably priced, small loans that enable you to write a check for more than what you have in your accou ... Read more

Additional Tip(s)

4 Types of Bank Overdraft Programs
Borrowing Against Your Home (aka, Reverse Mortgages)
Shop for a Car Loan Before You Shop for the Car
Questions to Ask About a Checking Account
Trying to Fix a Clogged or Frozen Home Equity Line

More Tips...

Nearby Terms

limit-on-close order
Lindsay Lohan stock index
line
line item
line item budget
line of credit
line of sight easement
line stakes
lineal foot
linear chart
linear regression

Popular 'Lending & Credit' Terms

equity
triple net lease
leverage
interest rate
amortization
security
accounts receivable
quick ratio
financial leverage
accounts payable

Related Terms

cash advance
overdraft protection
revolving line of credit
bank term loan
on-the-spot loan
swingline loan
backup line
credit application
pre-approval
title loan

Mentioned in these terms

demand line of credit
home equity line of credit