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revolving credit

DEFINITIONS OF: revolving credit

1

n a consumer credit line that can be used up to a certain limit or paid down at any time

Synonyms:
charge account credit, open-end credit
Types:
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charge account, credit account, open account
credit extended by a business to a customer
charge card, charge plate, credit card, plastic
a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered
debit card
a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
smart card
a plastic card containing a microprocessor that enables the holder to perform operations requiring data that is stored in the microprocessor; typically used to perform financial transactions
check overdraft credit, overdraft credit
credit provided by a bank in honoring a customer's overdrafts
revolving charge account
a charge account that does not have to be paid to zero balance
bank card
a credit card issued by a bank
calling card, phone card
a card that is used instead of cash to make telephone calls
cash card, cashcard
a credit card that entitles the holder to receive cash
Type of:
consumer credit
a line of credit extended for personal or household use
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