A personal line of credit is a form of open-ended credit in which the lender allows the borrower to access a prearranged revolving line of credit. This type of credit is also called closed-end credit. With this type of credit, the borrower must repay the amount owed plus interest in a specific number of equal payments. One form of this type of credit is a credit card (or charge card), which is a plastic card identifying the holder as a participant in the lender's charge account plan. This type of credit may consist of open-ended credit (also called revolving credit), which is credit extended in advance of any transaction, so that borrowers do not need to reapply each time they need to use the credit. This type of credit usually has a credit limit, which is the maximum outstanding debt that will be allowed on the credit account. Service credit is credit granted to consumers by public utilities, physicians, dentists, and other service providers that do not require full payment when services are rendered. This simplest form of this type of credit is a single-payment loan in which the original amount borrowed plus interest is due at the end of an agreed-on time period