Revolving Account

Filed Under » , , ,
Dictionary Says

Definition of 'Revolving Account'

A type of credit account in which the customer may defer payment on part of the balance.  Interest is charged on the unpaid balance and added to the total owed. A credit card is one type of revolving account. A revolving account may also be called a "line of credit" or "credit line". 
Investopedia Says

Investopedia explains 'Revolving Account'

A revolving account can be like a major credit card that can be used for payment at any business. Or, a customer can also open up a dedicated line of credit with a business in which the revolving account can only be used at that store. Credit issuers have the choice of whether they charge an annual fee to extend this type of credit, but almost all charge interest on the unpaid balances. If the outstanding balance is paid within the grace period (most commonly 30-45 days), then no interest would be charged.
Search results for

'Revolving Account'

  • 401(k) Debit Cards: Taking A Swipe At Your Retirement Savings

    http://www.investopedia.com/articles/retirement/08/401k-debit-card-loan.asp
    ... card, you must first apply for a loan from your 401(k) account and agree to ... Your
    employer may provide approval for a revolving or non-revolving line of credit. ...

  • Consumer Credit Report: What's On It

    http://www.investopedia.com/articles/04/122304.asp
    ... of inquiries over a twelve-month period is tracked and taken into account when your ...
    in-full, if you don’t have a mortgage, car payments or revolving debt of ...

  • Protect Yourself From HELOC Fraud

    http://www.investopedia.com/articles/mortgages-real-estate/09/heloc-fraud.asp
    ... It Works.) HELOCs A home equity line of credit is a type of revolving credit in ... As
    a result, they may not review the account, or they may forget they even have ...

  • 3 Steps To A Financially-Sound 2012 - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/3-Steps-To-A-Financially-Sound-2012.aspx
    ... debt accounting for nearly 98% of the nation's total revolving debt, there is ... more
    about credit cards rewards.) Choosing the Right Savings Account While having ...

  • Credit Cards: What Are Credit Cards? | Investopedia

    http://www.investopedia.com/university/credit-cards/credit-cards2.asp
    ... Credit cards provide a line of revolving credit. ... It aggregates your financial
    information, such as your credit accounts, the account limits and balances, and ...

  • The Pros And Cons Of Small Business Credit Cards

    http://www.investopedia.com/articles/pf/09/small-business-credit-cards.asp
    ... do not have a well-established credit history to qualify for a revolving line of ...
    small business card holders with online tools to manage their account, and a ...

  • Getting Your Name Off A Cosigned Loan

    http://www.investopedia.com/articles/pf/10/get-your-name-off-cosigned-loan.asp
    ... How revolving debt, such as credit cards is managed, is a large chunk of credit
    scoring ... chip in on the balance so you can end the credit burden on your account. ...

  • Consumers Inch Back

    http://stocks.investopedia.com/stock-analysis/2011/Consumers-Inch-Back-F-GM-MAV-DFS-JPM-BAC-C0113.aspx
    ... This followed a $7 billion increase in October, and was led by non-revolving student
    loans along with auto loans. Credit card debt continued to fall. ...

  • Forex Tutorial: Economic Theories, Models, Feeds & Data ...

    http://www.investopedia.com/university/forexmarket/forex5.asp
    ... There is a great deal of academic theory revolving around currencies ... A country's
    balance of payments is comprised of two segments - the current account and the ...

  • An Introduction To Perkins Loans

    http://www.investopedia.com/articles/younginvestors/11/everything-you-need-to-know-perkins-loans.asp
    ... the provision that the replaced funds be put in the school's revolving loan program. ...
    the money, the school will either credit your tuition account directly or ...

Related Articles

Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.46%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.59% 4.60%
$30K Home Equity Loan 5.74% 5.77%
$50K Home Equity Loan 5.45% 5.50%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.46%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.80% 3.80%
15 Year Fixed 3.09% 3.11%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.65% 2.69%
3/1 ARM 2.69% 2.69%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.34% 4.36%
36 Month New Car Loan 3.11% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links