Credit repeatedly available up to a specified amount as periodic repayments are made.
- Any form of credit that does not have a fixed number of payments
revolving credit - Legal Definition
A renewable line of credit over a certain period of time, usually synonymous with credit card account. The borrowed amount is repaid to a merchant or bank over a length of time in installments, consisting of part principal and part interest. Generally, the amount of interest a creditor can charge is limited by state usury laws. Often more expensive than other forms of credit.