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2008-07-09 02:25:49
2008-07-09 02:25:49

credit is any money loaned to you including cards/installments/mortgages etc and revolving indicates a line of credit or credit card which has a limit available and you can use and pay and reuse where an installment has a specific amount and you pay it off and it closes


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A credit card is a type of revolving credit, whereas a revolving credit account may or may not be a credit card. Revolving credit can also include other types of accounts, such as a revolving line of credit with a bank or a home equity line of credit.

A line of credit is one type of revolving credit, which works similarly to a credit card. Both a line of credit and revolving credit have a set amount available to use, and when you pay down or pay off the amount, the credit is available for you to use again. A line of credit may use collateral to secure the loan, such as a business building, or it may be unsecured or without collateral, such as a credit card.

What is the difference between micro credt and rural credit?

the difference between installment credit and open ended credit is they are the same..

The meaning of a revolving line of credit is a line of credit that is not linked to a certain number of payments. It is the complete opposite of installment credit.

revolving- When a planet moves around another in circular motion. rotating- When a planet spins on its axis

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

What is the difference between bank loan and bank credit?

The biggest difference between an overdraft facility and a revolving loan is that a bank is required to make the revolving loan. An overdraft facility is only an agreement between the bank and the customer that fulfills requests that are no more than a certain amount. The revolving loan is also up to an agreed maximum amount, but only if the borrower agrees to the terms in their agreement.

The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.

The type of credit that is extended when a person uses a credit card is revolving credit. Revolving credit allows the consumer to carry a balance and pay a minimum monthly.

it's a business transaction done between 02 parties and a bank holding credit

explain the difference between cash and credit transaction

What is the difference between credit shelter trust and irrevocable trust?

what is the difference between credit and credit card

RC loan refers to Revolving Credit Loan. Revolving Credit is a line of credit, which maybe used whenever a company needs funds. Usually, such credit doesn't have fixed number of payments.

A revolving fund is continuously replenished as funds are withdrawn. A refund is a complete repayment, or payback, of a certain amount of money.

The difference between credit score and credit rating is simple Credit score (or credit history) is the history of paying back debt where as credit rating the the reputation for paying back money owing

A revolving credit agreement is a legal contract between a lender and a borrower whereby the lender agrees to lend up to a certain amount to the borrower for some period of time. The borrower agrees to make minimum periodic payments during the time that the revolving credit agreement is in force and pay off any balance due at the end of the contract period. Many revolving credit agreements automatically renew after the agreed period (unless the credit circumstances for the borrower have radically changed). An example of a revolving credit agreement is the credit card. A credit card has a credit limit ("up to a certain amount" or "maximum"), an expiration date ("some period of time") and minimum payment requirements ("minimum periodic payments"). Most credit card agreements are renewed before the original agreement (the card) expires.

Revolving Documentary Letter of Credit

Only two types of credit card accounts in consumer credit. This is when a store or company issues a card with credit line say $1000. 1st is revolving credit which is like MBNA, Capital One, MasterCard, Visa, Orchard Bank, etc. Anything can be purchased at any store. A charge account is like Macy's, Foleys, Wal-Mart, etc. only items at that specific store can be purchased. Good Luck.

Revolving unsecured credit accounts (credit cards).

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.

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