A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
State Law
Arizona
means credit extended by a creditor under an agreement in which:

(a) The creditor reasonably contemplates repeated transactions Arizona Laws 20-1621.01
Iowa
means an arrangement, other than a consumer rental purchase agreement, pursuant to which all of the following are applicable:

 a Iowa Code 537.1301
Michigan
means credit extended under a plan in which both of the following apply:
  (i) The licensee or registrant reasonably contemplates repeated transactions Michigan Laws 493.51
Montana
means credit extended by a creditor under an agreement in which:

(a)the creditor reasonably contemplates repeated transactions;

(b)the creditor imposes a finance charge from time to time on an outstanding unpaid balance; and

(c)the amount of credit that may be extended to the debtor during the term of the agreement (up to any limit set by the creditor) is generally made available to the extent that any outstanding balance is repaid Montana Code 33-21-103
North Carolina
includes credit card balances North Carolina General Statutes 58-57-5