What is an open line of credit? a. A line of credit which has no current balance. b. A line of credit with a variable interest rate. c. A line of credit against which additional debt may be drawn. d. A line of credit which has no credit history requirements.

Line of credit (LOC) can be expressed as the maximum loan amount the customer can borrow from any of the financial institution either it may be any bank, Private Organization or some firm or if you can include a single individual human . The mendicant can access funds from the financial institution till it does not cross a set limit, or if you are not making timely payments.

So, if line of credit is open it means, the Asker can ask for more money , the rate of interest may be little higher or lower than the previous rates.

So, an open line of credit is

Option C: A line of credit against which additional debt may be drawn.