Line of Credit

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Line of Credit

The maximum borrowing power granted to a person from a financial institution.

Line of credit denotes a limit of credit extended by a bank to a customer, who can avail himself or herself of its full extent in dealing with the bank but cannot exceed this limit. It most frequently covers a series of transactions, in which case, when the customer's line of credit is nearly exhausted or not replenished, the customer is expected to reduce the indebtedness by submitting payments to the bank before making additional use of the line of credit.

References in classic literature ?
In his left hand he carried a pick-handle, in his right a revolver, already empty, for he clicked the cylinder vainly around as he ran.
"I'll take the risk," said I, at last; and with a revolver in each hand I walked up the beach towards them.
Come, put away that nasty revolver and let us talk it over.
As he turned, the little, mean-faced man drew a revolver from his belt and shot the giant in the back.
Burnett, he look 'm along Winchester, look 'm along cartridge, look 'm along revolver, look 'm along black powder, look 'm along dynamite--my word, he cross too much, he give you three fella year along jail.
The reports of the revolver were heard by the office boy, who rushed in to find Hartwell expiring in his chair.
Ibex and musk-sheep fell before my good old revolver, so that I lacked not for food in the higher altitudes.
The woman had found a revolver in a table drawer in the room in which she had been locked, and now she kept the mate of the Kincaid at bay with the weapon.
Passepartout was waiting for his master, armed with half a dozen six-barrelled revolvers. When he perceived Fix, he knit his brows; but Aouda having, in a few words, told him of their adventure, his countenance resumed its placid expression.
Missed!" he said, fumbling after the revolver. The revolver was close beside him--he sought further off.
"And if you'll give me your revolver, I'll have the Reindeer bailed out in a jiffy."
Instantly he was up again and wheeling to renew the battle; but Werper was on foot ahead of him, and now his revolver, loosened from its holster, flashed in his hand.