Nonrevolver

Definition of 'Nonrevolver'


A credit card holder who pays his or her balance in full each month within the stated grace period on the account. By using the card in this manner the account holder does not incur finance charges or interest payments.

Also sometimes referred to as a "deadbeat" or "convenience user," since the credit card company does not earn any interest or non-interest revenue from the account, and the customer is able to use the card for his or her convenience instead of writing checks or using cash.

Investopedia explains 'Nonrevolver'


Nonrevolvers will typically pay more attention to the grace period – the time between when a bill is sent and interest is charged on the unpaid balance – than the annual percentage rate (APR) on the card, since the holder does not intend to carry a balance. In addition, nonrevolvers are likely to make sure they do not incur an over-the-limit fee or use the card for cash advances, which incur a cost as well.


Filed Under: ,

comments powered by Disqus
Hot Definitions
  1. Treasury Inflation Protected Securities - TIPS

    A treasury security that is indexed to inflation in order to protect investors from the negative effects of inflation. TIPS are considered an extremely low-risk investment since they are backed by the U.S. government and since their par value rises with inflation, as measured by the Consumer Price Index, while their interest rate remains fixed.
  2. Gilt-Edged Switching

    The selling and repurchasing of certain high-grade stocks or bonds to capture profits. Gilt-edged switching involves gilt-edged security, which can be high-grade stock or bond issued by a financially stable company such as the Blue Chip companies or by certain governments.
  3. Master Limited Partnership - MLP

    A type of limited partnership that is publicly traded. There are two types of partners in this type of partnership: The limited partner is the person or group that provides the capital to the MLP and receives periodic income distributions from the MLP's cash flow, whereas the general partner is the party responsible for managing the MLP's affairs and receives compensation that is linked to the performance of the venture.
  4. Class Action

    An action where an individual represents a group in a court claim. The judgment from the suit is for all the members of the group (class).
  5. Retail Sales

    An aggregated measure of the sales of retail goods over a stated time period, typically based on a data sampling that is extrapolated to model an entire country. In the U.S., the retail sales report is a monthly economic indicator compiled and released by the Census Bureau and the Department of Commerce.
  6. Okun's Law

    The relationship between an economy's unemployment rate and its gross national product (GNP). Twentieth-century economist Arthur Okun developed this idea, which states that when unemployment falls by 1%, GNP rises by 3%. However, the law only holds true for the U.S.
Trading Center