What is revolving credit?

Revolving credit is a credit line you can borrow against, repay, and borrow against again, up to a set limit — credit cards and HELOCs are the most common examples.

Explanation

Revolving accounts report a balance and a limit each cycle, which drives the credit utilization metric.

Because there is no fixed term, revolving balances can persist indefinitely as long as minimum payments are made.

Examples

•Credit cards
•Home equity lines of credit (HELOCs)
•Business lines of credit
•Personal lines of credit

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