RC has various meanings in the Banking category. Discover the full forms, definitions, and usage contexts of RC in Banking.
A type of credit agreement, e.g., a credit card, in which a person is given a specified credit limit which can be paid in full or in part, usually on a monthly basis. If the amount owing is paid in full in the first month then usually no interest is charged. When the full credit limit has been reached a payment must be made before the credit card can be used again.
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