Jun '24 • Credit knowledge
What Is Revolving Credit
Revolving credit is a type of credit arrangement where the borrower has access to a specified amount of funds, known as a credit limit, and can use and repay these funds flexibly. Unlike installment credit, which involves fixed payments and a predetermined loan term, revolving credit allows borrowers to repeatedly borrow up to their credit limit as long as they repay at least a portion of the outstanding balance.
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What Is Revolving Credit
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