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Q: Define open-end credit
A: Open-end credit is defined as: an agreement by a bank to lend a specific amount to a borrower, and to allow that amount to be borrowed again once it has been repaid.
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Asked 7/14/2011 5:24:00 PM
Updated 10/14/2016 5:20:37 AM
1 Answer/Comment
Edited by yumdrea [10/14/2016 5:20:36 AM]
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Open-end credit is defined as: an agreement by a bank to lend a specific amount to a borrower, and to allow that amount to be borrowed again once it has been repaid.

Added 10/14/2016 5:20:37 AM
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