What does revolving credit mean?
Definitions for revolving credit
re·volv·ing cred·it
This dictionary definitions page includes all the possible meanings, example usage and translations of the word revolving credit.
Princeton's WordNet
open-end credit, revolving credit, charge account creditnoun
a consumer credit line that can be used up to a certain limit or paid down at any time
Wiktionary
revolving creditnoun
Any form of credit that does not have a fixed number of payments
ChatGPT
revolving credit
Revolving credit is a type of credit agreement that allows borrowers to spend, repay, and then re-spend again up to a certain limit. This can continue indefinitely as long as the borrower maintains their payments and does not exceed their agreed credit limit. Common examples include credit cards and personal lines of credit. Interest is charged only on the amount that is used, not on the entire credit limit.
Wikidata
Revolving credit
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of revolving credit in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of revolving credit in Pythagorean Numerology is: 3
Examples of revolving credit in a Sentence
It’s really revolving credit, mostly credit card debt, that’s carrying the day right now, a lot of that would be on essentials, some of it on discretionary stuff as well; but with the average credit card rate approaching 20%, it’s a tough time to be growing your balance.
The revolving credit facility will close ahead of its May maturity and is expected to exceed our target amount.
Translations for revolving credit
From our Multilingual Translation Dictionary
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"revolving credit." Definitions.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.definitions.net/definition/revolving+credit>.
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