REVOLVINGCREDIT

Revolving credit

Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store.

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revolving credit

Noun

  1. Any form of credit that does not have a fixed number of payments


The above text is a snippet from Wiktionary: revolving credit
and as such is available under the Creative Commons Attribution/Share-Alike License.

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