Revolving line of credit

Revolving line of credit,

Definition of Revolving line of credit:

  1. A type of credit account in which the lender issues a specific amount of credit that is available on demand by a borrower. It is revolving because the borrower only pays interest on the amount borrowed, and as the balance is paid down, the credit becomes available again.

Meaning of Revolving line of credit & Revolving line of credit Definition