Revolving Credit Account
A revolving credit account lets a borrower reuse credit up to a set credit limit as balances are repaid. Available credit replenishes as payments post, and interest may apply if the balance is not paid in full.
Examples include credit cards and lines of credit. Revolving accounts usually have a monthly statement cycle and a minimum payment, and they affect credit utilization. CFPB overview: Consumer Financial Protection Bureau.
Related Terms
Credit Limit
A credit limit is the maximum amount a borrower can use on a revolving credit account. It applies to...
Line of Credit
A line of credit is a type of revolving credit account that allows a borrower to draw funds up to a ...
Credit Utilization
Credit utilization is the percentage of available revolving credit that a borrower is using. It is a...
Credit Score
A credit score is a numerical rating that represents a person's creditworthiness based on their cred...
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