open-end credit
noun[CorU]
BANKING,FINANCEukusanarrangementforborrowingfrom abankwheremoneycan be taken andpaidback up to anagreedlimit, andinterestischargedonly on theamountthatremains, which may bepaidoff at anytimewithin theperiodof theloan:
Overdrafts andcreditcardfacilitiesarefurtherexamplesof open-endcredit.