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English definition of “credit balance”

credit balance

noun [C]
 
 
BANKING, FINANCE an amount of money you have in a bank account: There are no charges to pay provided you maintain an average monthly credit balance of over £1,000 in your current account. → Compare debit balance, debit balance
ACCOUNTING an amount in a company's financial accounts showing that more money has been received than is owed: The accounts this quarter show a credit balance.
BANKING, FINANCE an amount of money you owe on a credit card: Last year two out of three cardholders paid off their credit balance in full every month.
(Definition of credit balance from the Cambridge Business English Dictionary © Cambridge University Press)
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