Question

A prearranged credit agreement with a bank typically open for two or more years is called a:________

Answer 1

A prearranged credit agreement with a bank typically open for two or more years is called a line of credit.

A Prearranged charge and Deposit entry is a credit or debit to a client's bank account. The fee may be both single-use or routine. In maximum B2C contexts, PPD is by a long way the most typically used SEC code.

A prearranged loan from a financial institution for a targeted amount; is also referred to as a "bank line of credit." mortgage. Borrowing cash with a settlement to pay off along with interest within a sure quantity of time.

A personal line of credit is an unsecured mortgage. this is, you're asking the lender to consider you to make repayment. To land one, then, you'll want to give a credit score in the top-accurate variety — 700 or greater — accompanied by a history of being punctual about paying debts.

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