What type of credit line can be utilized repeatedly up to a certain limit?

The type of credit line that can be utilized repeatedly up to a certain limit is known as open-end credit. This form of credit allows a borrower to access funds up to a designated limit, with the flexibility to borrow, repay, and borrow again as needed. This cyclical pattern of borrowing and repayment provides consumers with greater financial flexibility for ongoing expenses, such as credit cards or lines of credit, where as one pays down the balance, they can borrow again up to the limit.

In contrast, fixed credit typically refers to loans with a set amount that is issued upfront and must be repaid over time, without the option for re-borrowing. Term credit involves borrowing a specified amount for a specific period with set repayment terms, and once it's repaid, the line is closed. Secured credit involves loans that are backed by collateral, meaning that the lender has the right to seize the collateral if the borrower defaults, which doesn't inherently affect the repeated utilization aspect compared to open-end credit.