Revolving Credit (Noun)
Meaning
A consumer credit line that can be used up to a certain limit or paid down at any time.
Classification
Nouns denoting possession and transfer of possession.
Examples
- A home equity line of credit is a type of revolving credit that allows homeowners to borrow against the value of their property.
- She took out a revolving credit from the bank to finance her daughter's college tuition.
- He opted for a revolving credit with a credit limit of $10,000 to cover unexpected business expenses.
- Revolving credit agreements often include a variable interest rate that can change over time.
- The new credit card offer included a revolving credit with a 0% introductory interest rate for the first six months.