line of credit
26
3.1
- noun
- /laɪn əv ˈkrɛdɪt/
- Specialized
- The bank approved my application for a line of credit of up to $10,000.
- line of credit from a bank
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Watch on YouTubeI had taken out a, a, a second on my home in terms of a home equity line of credit.
- I had taken out a, a, a second on my home in terms of a home equity line of credit.
- And so we needed capital and a public company came along and they said, hey, we've got a little pub Co, We've got lines of credit.
- One, student loan debt is the best line of credit to have.
Examples
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That's when we can come in and start providing them with a line of credit that lets them grow their business.
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Now, I'll open up a line of credit for you.
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It's just your line of credit is rather high and over its limit.
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What if the bank takes away your home line of credit when you lose your job?
Blog text (23) -
Then they can bill their customer, pay off their line of credit after paying all their bills.
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Who can I speak to about a home equity line of credit?
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We decided to tap what little was left in a line of credit and do it.
Academic text (2007) -
The bank has canceled your line of credit.
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I think FHA will need a line of credit for at least $50 billion.
Blog text (8) -
If a reserve fund is impractical, a bank line of credit may be an alternative.
Academic text (1994)
Synonyms
10
3.7
The largest amount a bank allows you to borrow when needed
9
3.3
Money people borrow to buy things for their home or family not for business
1
4.6
The most money a bank lets a customer borrow for loans or overdrafts
1
6.2
A borrowing plan that lets you borrow up to a set limit and use it again as you repay
1
4.8
An agreement with a bank that lets a person borrow money up to a set limit when needed
1
3.7
An agreement with a bank that lets a person borrow money up to a set limit when needed
How Much
14
2.7
- Specialized
26
3.1
- Specialized
2
5.6
14
3.2
Surface Forms
Morphology
The element 'credit' clearly locates the phrase in the financial domain, and a learner can plausibly infer that 'line' here marks an allocated channel or allowance of that credit. However, the sense of 'line' as an available limit/borrowing ceiling is somewhat metaphorical and relies on the collocational pattern 'line of X', so a B1 learner who only knows the literal word senses may not fully predict the exact banking sense without exposure or context.
Etymology
The noun line of credit comes from a simple image: a bank gives you a marked line of credit, a clear 'limit' on the money you may 'borrow'. So it means an agreement that lets you take money up to that set amount when needed.