open-end credit Synonyms
No Synonyms and anytonyms found
open-end credit Meaning
Wordnet
open-end credit (n)
a consumer credit line that can be used up to a certain limit or paid down at any time
open-end credit Sentence Examples
- Open-end credit allows customers to borrow money on an ongoing basis up to a pre-approved limit.
- Credit cards are a common form of open-end credit, enabling users to make purchases without paying the full amount upfront.
- Open-end credit accounts typically have a minimum monthly payment requirement.
- Interest rates on open-end credit are often variable, meaning they can fluctuate over time.
- Payday loans are a type of short-term open-end credit with high interest rates and strict repayment deadlines.
- Home equity lines of credit (HELOCs) are open-end loans secured by a borrower's home equity.
- Open-end credit can provide convenience and flexibility for managing expenses.
- It is important to use open-end credit responsibly to avoid accumulating excessive debt.
- Open-end credit accounts should be monitored regularly to ensure accurate billing and timely payments.
- Some open-end credit accounts offer rewards or cash back incentives for usage.
FAQs About the word open-end credit
a consumer credit line that can be used up to a certain limit or paid down at any time
No synonyms found.
No antonyms found.
Open-end credit allows customers to borrow money on an ongoing basis up to a pre-approved limit.
Credit cards are a common form of open-end credit, enabling users to make purchases without paying the full amount upfront.
Open-end credit accounts typically have a minimum monthly payment requirement.
Interest rates on open-end credit are often variable, meaning they can fluctuate over time.
