revolving credit

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re·volv·ing credit

 (rĭ-vŏl′vĭng)
n.
Credit repeatedly available up to a specified amount as periodic repayments are made.

revolving credit

n
(Banking & Finance) a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded

revolv′ing cred′it


n.
credit automatically available up to a predetermined limit while payments are periodically made.
[1915–20]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.revolving credit - a consumer credit line that can be used up to a certain limit or paid down at any time
consumer credit - a line of credit extended for personal or household use
charge account, credit account, open account - credit extended by a business to a customer
charge card, charge plate, credit card, plastic - a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered; "do you take plastic?"
debit card - a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
smart card - a plastic card containing a microprocessor that enables the holder to perform operations requiring data that is stored in the microprocessor; typically used to perform financial transactions
check overdraft credit, overdraft credit - credit provided by a bank in honoring a customer's overdrafts
Translations
crédit permanent

revolving credit

n (Fin) → credito a termine rinnovabile automaticamente
References in periodicals archive ?
Last week, LXP obtained a $200 million unsecured revolving credit facility.
As with the previous Revolving Credit Facility, under the new arrangement funds are available to support the short-term borrowing needs of the company.
The four-year revolving facility replaces KB Home's existing $644 million revolving credit facility expiring in 2004 and its $183 million term loan expiring in 2005.
The terms include an extension of the maturity of the revolving credit facility from June of 2002 to June of 2004, while maintaining the existing maturity schedule for the company's senior notes," according to a statement from TruServ.
Under the new $140 million revolving credit facility (the "2011 Revolving Credit Facility"), the interest rate spread over the LIBOR base rate was reduced from a 3.
31, 2006 and $584 million of availability on its $1 billion secured revolving credit facility expiring 2012 due to $275 million of borrowings and $141 million of outstanding letters of credit.
Margaretten also announced that it completed the refinancing of its term and revolving credit facility on June 18, 1993, with the First National Bank of Chicago acting as agent for the six-bank syndicate.
In addition, Fitch has assigned a 'BB-' rating to the $100 million senior unsecured revolving credit facility due Dec.
The new revolving credit facility will reduce Promus' interest costs, increase borrowing capacity, continue its strategy of lengthening maturities and provide covenant flexibility to pursue its expansion activities in the casino entertainment industry.
Commenting on the facility, the company's Chief Financial Officer, Mark Cozzi, said that "With the closing of the JPMorgan Chase revolving credit facility, Leor has achieved an important and impressive milestone.
A four-year, $10 billion revolving credit facility to GMAC;