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

  • Average daily balance
    Average daily balance is a method for calculating interest in which the balance owed each ...
  • Uncovered Interest Arbitrage (UIA)
    A deviation from covered interest arbitrage is uncovered interest arbitrage (UIA), where ...
  • Holding company
    Holding company is a company which controls another company, usually by owing more than ...
  • Coupon or bearer bond
    Coupon or bearer bond one with dated coupons attached, which the bondholder must cut off ...
  • Available Balance
    Available Balance is the portion of a customer’s account balance having no restrictions ...