Definitions for "open-end credit"
Types of credit extensions that permit borrowers to add to the amount borrowed, usually in irregular amounts, at various times subsequent to the granting of the credit. Examples include credit card loans, personal lines of credit, and home equity lines of credit.
Revolving line of credit that is extended with every purchase or cash advance.
Open-end credit is a reusable line of credit, such as a credit card.
An agreement by a bank to lend a specific amount to a borrower, and to allow...