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What is a revolving account?


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2009-01-28 10:28:41
2009-01-28 10:28:41

{| |- | A revolving account is an account that requires a minimum payment each month in addition to a service charge. When the balance decreases, the service charge/interest also declines. To learn more about credit terms you can visit |}


Related Questions

Yes, if the account type is considered a line of credit it will be calculated into your revolving account balance on your credit report.

Credit cards are revolving accounts. Whereas car loans and home loans are not. A revolving account is one where you can carry a balance and charge it back up as you pay it off.

It can be considered an open account or a written contract.

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A revolving department store credit card means that the interest accumulates monthly and the balance carries over. Most credit cards that are issued by a department store have this type of account.

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