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open-end credit

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.open-end credit - a consumer credit line that can be used up to a certain limit or paid down at any time
consumer credit - a line of credit extended for personal or household use
charge account, credit account, open account - credit extended by a business to a customer
charge card, charge plate, credit card, plastic - a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered; "do you take plastic?"
debit card - a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
smart card - a plastic card containing a microprocessor that enables the holder to perform operations requiring data that is stored in the microprocessor; typically used to perform financial transactions
check overdraft credit, overdraft credit - credit provided by a bank in honoring a customer's overdrafts


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While lawmakers and aides didn't intend to include the provision on open-end credit in the legislation, it may not be simple to remove, said NAFCU Director of Legislative Affairs Brad Thaler.
For both closed- and open-end credit, the required information includes the period of time that teaser rate would be in effect, and the APR of the loan (or current payment) after the initial rate expires.
72) Additionally, TILSRA required that other charges, which were not considered to be finance charges, be disclosed for open-end credit products.
 
 
 
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