Open-ended accounts, usually with variable interest rates, pre-determined credit limits and payments that are calculated as a percentage of the unpaid balance. Credit cards, home equity lines of credit (HELOC) and personal lines of credit are all examples of revolving debt.

A type of credit that allows the borrower/customer to make charges against a predetermined line of credit. The customer then pays monthly installments on the amount borrowed, plus interest.

A credit arrangement, such as a credit card, that allows a customer to borrow against a preapproved line of credit when purchasing goods and services. The borrower is billed for the amount that is actually borrowed plus any interest due.

refers to a type of debt account with a financial institution that gives the borrower a preapproved line of credit or account balance that can be spent within that month, although there is no fixed pr [..]

A type of credit that allows the borrower/customer to make charges against a predetermined line of credit. The customer then pays monthly installments on the amount borrowed, plus interest.

A debt or liability that does not have a fixed principal balance or payment. Examples include credit cards, home equity lines of credit, etc.