In Banking terminology, which among the following refers to “Available credit”?
In Banking terminology, which among the following refers to “Available credit”?
[A]Total Credit limit available to a customer
[B]Total Credit limit available to a customer minus current balance
[C]Total current balance minus credit limit
[D]Total current balance
Total Credit limit available to a customer minus current balance
Available credit is a customer’s credit limit minus his / her current balance. It is the unused portion of the credit line.