Definition

Open-End Credit

Open-End Credit commonly referred to as a Line of Credit. May be used repeatedly up to a certain limit; also called a Charge Account or Revolving Credit

Share it:  Cite

More from this Section

  • Assignments
    Assignments is a form of loan sale in which ownership of a loan is transferred to the ...
  • Blocked funds
    Blocked funds— funds in one country’s currency that may not be exchanged freely for ...
  • Redemption
    Redemption means paying off all the money borrowed under an agreement. ...
  • Mutual funds
    Mutual funds is the investment companies that attract savings from the public and invest ...
  • Dollarization
    Dollarization is the replacement of a foreign currency with U.S. currency with U.S. dollars. ...