Definition of revolving credit in English:
Credit that is automatically renewed as debts are paid off: banks are not allowed to provide revolving credit on their charge cards [count noun]: it is not a straight loan but a revolving credit
More example sentences
- And about 40% of non-real-estate consumer debt is revolving credit, much of which has adjustable rates.
- High outstanding debt on credit cards and other revolving credit can decrease your score.
- Morgan's biggest hit in Hollywood may well be the $1 billion revolving credit it granted DreamWorks in 1992, along with financing for a Gulfstream IV for the studio's execs.
Definition of revolving credit in:
- US English dictionary