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Related to revolving credit: Revolving credit facility, Revolving line of credit
Credit repeatedly available up to a specified amount as periodic repayments are made.
(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
credit automatically available up to a predetermined limit while payments are periodically made.
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|Noun||1.||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 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