an unsecured line of credit that may or may not havea personal guarantee
a revolving credit account - like a credit card
a revolving line accessible by personal check, by phone or in person
a type of revolving credit that lets you write checks for the amount you want to borrow, up to a limit set by the lender
A revolving source of credit with a pre-established limit. The individual accesses the funds only as needed, and any amount paid back becomes accessible to him or her again. Unlike a personal loan, a PLC permits the individual to write cheques and make bank machine withdrawals, and requires him or her to pay interest only on the funds actually used.
A line of credit which allows you to write yourself small loans using a special chequebook. They require an agreement between you and the lender establishing a maximum credit limit and a repayment schedule for monthly installments.
The maximum amount one can owe at any time, based on income, debt and credit history.
A maximum amount one can owe at any time.
