- Definition
A line of credit is like a flexible loan where a bank lets you borrow money up to a certain limit, and you only pay interest on the amount you actually use. You can borrow and repay as needed, as long as you don't go over your limit.
line of credit is a term used in Ontario’s Kindergarten to Grade 8 curriculum.
The descriptions on this page are SmartStudy’s own original, plain-language writing — not the Ministry’s wording. They are aligned to the Ontario Curriculum, © King’s Printer for Ontario. For the Ministry’s official wording, see the source link below. SmartStudy is an independent service and is not affiliated with, endorsed by, or sponsored by the Government of Ontario or the Ministry of Education. Ontario Curriculum and Resources ↗
