Bank Credit
What is Bank Credit?
Bank credit is an amount of funds that a person or business can borrow from a bank.
How Does Bank Credit Work?
All kinds of things can be bank credit: mortgages, credit card accounts and even overdraft lines. Added together, this is bank credit.
The cost and terms of bank credit varies, depending on whether there is collateral involved, what competing banks are offering, and of course the borrower's creditworthiness.
Why Does Bank Credit Matter?
Bank credit is a person's or business's total borrowing capacity in all forms with a bank. The quantity and cost of bank credit largely rests on the borrower's creditworthiness, though past relationships, current income and the use of funds are also factors.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
