revolving credit
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revolving credit
noun
credit automatically available up to a predetermined limit while payments are periodically made. Compare credit line ( def 2 ).
Origin:
1915–20
1915–20
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
Cite This Source
|
Link To revolving credit
Collins
World English Dictionary
| revolving credit | |
| —n | |
| a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded | |
Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
Cite This Source
00:10
Revolving credit
is always a great word to know.
So is gobo. Does it mean:
| a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes. |
| a screen or mat covered with a dark material for shielding a camera lens from excess light or glare. |
Encyclopedia Britannica
Encyclopedia
revolving credit
system of retail credit in which the buyer makes periodic payments to an account to which his purchases and service charges have been debited. The service charge is based on the outstanding balance; if the buyer pays his entire balance, no service charge accrues. The total credit allowed the customer may be some multiple of a fixed monthly payment, or there may be no credit limit-the monthly payment varying with the outstanding balance. Revolving-credit plans are provided by many department stores and are an important feature of bank credit-card systems (see credit card).
Learn more about revolving credit with a free trial on Britannica.com.
Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
Maybe it's the savings rate, or revolving credit, or total bank credit.
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