What is the meaning of revolving credit?

revolving credit is a line of credit extended to customers who may use it as often as desired up to a certain dollar limit. Items purchased using this line of credit, may be paid in full upon receipt of a monthly statement, or they may be paid for in several installments, for which an interest charge is added.

5
 
|15 years ago|636 views|share |citing 
APABarry Goldsmith. (2010). revolving credit. Retrieved September 30, 2026, from http://smartdefine.org/revolving_credit/definitions/1162566
ChicagoBarry Goldsmith. 2010. "revolving credit" http://smartdefine.org/revolving_credit/definitions/1162566 (accessed September 30, 2026).
HarvardBarry Goldsmith 2010, revolving credit, Smart Define, viewed 30 September, 2026, <http://smartdefine.org/revolving_credit/definitions/1162566>.
MLABarry Goldsmith. "revolving credit" 21 October 2010. Web. 30 September 2026. <http://smartdefine.org/revolving_credit/definitions/1162566>
{ class="autoclick" }next definition (/)