open-end credit
- noun
- /ˈoʊpən ɛnd ˈkrɛdɪt/
- Specialized
:
crédito abierto
- Open-end credit is flexible.
Examples
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With open-end credit, you can repay part or all of your balance and borrow again as needed.
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Many people prefer open-end credit for its flexibility.
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Home equity lines of credit are a popular form of open-end credit for homeowners.
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Many credit cards operate as open-end credit, letting consumers borrow up to a predetermined limit.
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Many people use open-end credit to manage their monthly expenses and enjoy the flexibility to borrow as needed.
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With open-end credit, you can borrow money up to a specified limit and pay it back at your convenience.
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An open-end credit account allows you to access funds repeatedly, making it useful for ongoing projects or investments.
Synonyms
24
3.1
A plan from a bank that lets you borrow up to a set amount
6
3.7
The largest amount a bank allows you to borrow when needed
1
5.6
A loan you can use again up to a set limit while you repay the balance
A way to buy now at a shop and pay later up to a set limit you can repay anytime
An agreement with a bank that lets a person borrow money up to a set limit when needed
How Flexible
Surface Forms
Morphology
open-end + credit
A B1 learner who knows 'open' and 'end' can plausibly infer that 'open-end' means 'not having a fixed end', so 'open-end credit' could be guessed as a kind of credit without a fixed termination. However, the full financial sense (revolving facility, reuse up to a limit and discretionary repayment) is specialized and not fully predictable from the parts, so the phrase is only partially transparent to learners.
Etymology
Open-end credit comes from the picture of a credit account that stays open instead of closing at an end, like a door you can pass through again and again. So it means a credit you can borrow from up to a set limit and 'use again' when you pay it back.