Revolving Credit Definition: Revolving credit is a continual process of repeatedly borrowing to repay up to a certain limit. Once each payment is made, usually in full, the amount is lent again, at the same or similar rate of interest, to be repaid at a later date.
Revolving credit is common with lines of credit and credit cards, as they both require accrued interest and fees to be paid for the amount borrowed every month or at regular intervals. If the amount borrowed decreases over time, this is reflected in lower interest rates and fees. Revolving lines of credit can apply to unsecured and secured lines of credit.
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