A type of credit agreement, e.g., a credit card, in which a person is given a specified credit limit which can be paid in full or in part, usually on a monthly basis. If the amount owing [..]

Revolving credit refers to credit with a clause for automatic renewal (under certain conditions).

A consumer credit plan that combines the convenience of a continuous charge account and the privileges of installment payment. It is commonly used for purchase of merchandise on a nonsecured basis.

A revolving credit arrangement allows you to borrow up to your credit limit without having to reapply each time you need cash. As you repay the money you have borrowed, it is available to be borrowed again. For example, if you have a credit card with a credit limit of $1,500 and you make a purchase of $400, the amount of credit you have available i [..]

A type of credit that permits a consumer to purchase goods or obtain loans on an as-needed basis, as long as the consumer does not exceed the credit limit established by the lender. Also called a &quo [..]

is a method applied to various credit and loan agreements where there are no fixed regular payments or a fixed number of payments, as opposed to regular monthly installments. Credit cards are a common [..]

a credit which may be used repeatedly up to the limit specified after partial or total repayments have been made

A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is a [..]

It's one in which, after notice of drawing against it is received by the issuing bank, the balance available for drawing again reverts back or 'revolves' to its original amount, providing the credit has not expired in the meantime.

A credit where the amount of available drawings is reinstated automatically after a stated period of time.

A type of credit allowing an individual to borrow up to a certain amount of money, repay the money borrowed with interest when it is due, and then borrow the money again. The most popular kind of revo [..]

This type of credit is carried out by the customer paying a commitment and fee, and is then allowed to use the funds where needed. It is usually used for operating functions, so it varies each much depending on cash flow needs.

A credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. As credit is paid off, it becomes available to use again

A line of credit, typically a credit card, that does not have a specified repayment schedule but may require a minimum payment to cover interest and contribute to paying off principal.

Revolving credit is a consumer credit line that can be used up to a certain limit or paid down at any time. It refers to an agreement by a bank to lend a specific amount to a borrower, and to allow th [..]

A line of bank credit that may be used or not used at the borrower's discretion. Interest is paid on the amount of credit actually in use, while a commitment fee is paid on the unused portion.

A credit which can be automatically renewed without additional negotiation with the bank. It is available up to a specified amount which remains constant during a given period of time, such that whene [..]

Credit that you can use from time to time to buy various goods or services of varying cash value (also called vendor credit).

See open-end credit.

A line of credit is an example of a product based on revolving credit.  Once granted, borrowers may use the funds at any time and make repayments (usually interest only or interest plus a spread) mont [..]

A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.)

System of retail credit (e.g., department store or bank credit cards) in which buyers make periodic payments on purchases and service charges. The service charge is based on the outstanding balance; if the buyer pays the entire balance, no service charge accrues.

A form of financing in which the bank makes funds available to the customer up to a maximum amount. The customer can use the funds as required within a specific period of time.

Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Revolving credit agreementA legal commitment in which a bank promises to lend a c [..]