Financial arrangements made between the lending institution and a business or an individual.
1 Revolving Credit – this is actually a “line of credit”… that means that you are allowed by the lender to borrow any amount up to your limit or “line”. 2  You then pay back some interest and maybe some principal each month. 3  However the payment amount varies from month to month. A: In basic terms, revolving credit is a specific type of line of credit. A line of credit and revolving credit are financial arrangements made between the lending institution and a business or an individual. The lender provides access to funds that you can use at your discretion to make purchases. In basic terms, revolving credit is a specific type of line of credit. A line of credit and revolving credit are financial arrangements made between the lending institution and a business or an individual. The lender provides access to funds that you can use at your discretion to make purchases. Revolving line of credit. A revolving line of credit refers to a bank or merchant offering a certain amount of always available credit to an individual or corporation for an undetermined amount of time. The debt is repaid periodically and can be borrowed again once it is repaid. DEFINITION of 'Revolving Credit'. A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customer's current cash flow needs. Often referred to as revolver.. A line of credit is a type of revolving credit, which works similar to a credit card. Both a line of credit and revolving credit have a set amount available to use, and when you pay down or pay off the amount, the credit is available for you to use again.
http://www.thecreditsolutionprogram.com/what-credit-is-considered-to-be-a-revolving-account/ http://www.investopedia.com/ask/answers/110614/what-are-differences-between-revolving-credit-and-line-credit.asp http://www.investopedia.com/ask/answers/110614/what-are-differences-between-revolving-credit-and-line-credit.asp http://www.creditcards.com/glossary/term-revolving-line-of-credit.php http://www.investopedia.com/terms/r/revolvingcredit.asp http://smallbusiness.chron.com/line-credit-vs-revolving-credit-3697.html
what is considered revolving credit