Financial Planning Advices » Financial Terminology » What is a Revolving Credit?
What is a Revolving Credit?
There are several types of credits. One of them is the so called revolving credit, which is commonly referred to as open-ended credit.
The holder of a revolving credit is allowed to use it repeatedly. However, there is a certain credit limit and the credit can be used as long as the payments are made.
Examples of revolving credits include lines of credit and credit cards.
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