Revolving Account

A revolving account is an account created by a lender to represent debts where the outstanding balance does not have to be paid in full every month by the borrower to the lender. The borrower may be required to make a minimum payment, based on the balance amount. However, the borrower normally has the discretion to pay the lender any amount between the minimum payment and the full balance. If the balance is not paid in full by the end of a monthly billing period, the remaining balance will roll over or "revolve" into the next month. Interest will be charged on that amount and added to the balance.

The most common example of a revolving account is a credit card.

Credit, charge, stored-value, and debit cards
Major cards
  • American Express
  • Diners Club
  • MasterCard
    • Debit MasterCard
    • Maestro
  • Visa
    • Visa Debit
    • Visa Electron
Regional and
specialty cards
  • BC Card
  • BCA Card
  • Carte Bleue
  • China UnionPay
  • Dankort
  • Discover
  • EFTPOS
  • Fuel cards
  • Girocard
  • Interac
  • JCB
  • Laser
  • NETS
  • RuPay
  • UATP
  • V PAY
Defunct cards
  • Access
  • Bankcard
  • Carte Blanche
  • Choice
  • enRoute
  • Eurocard
  • Everything
  • Solo
  • Switch
Accounts
  • Bank card number
  • Card enclosure
  • Credit card balance transfer
  • Credit limit
  • Revolving account
Debt
  • Cash advance
  • Charge-off
  • Maxed out
Interest
  • Grace period
  • Introductory rate
  • Universal default
Payment
  • Card not present transaction
  • Chargeback
  • Controlled payment number
  • Dispute
Interchange fee
  • Interchange fee
  • Surcharge
Security
  • Card security code
  • Credit card fraud
  • Credit card hijacking
  • Friendly fraud
Technology
  • Automated teller machine
  • Contactless payment
  • Credit card terminal
  • EMV
  • Interbank network
  • Magnetic stripe card
  • Smart card


Famous quotes containing the words revolving and/or account:

    “A Route of Evanescence
    With a revolving Wheel—”
    —Emily Dickinson (1830–1886)

    “I still feel just as I told you, that I shall come safely out of this war. I felt so the other day when danger was near. I certainly enjoyed the excitement of fighting our way out of Giles to the Narrows as much as any excitement I ever experienced. I had a good deal of anxiety the first hour or two on account of my command, but not a particle on my own account. After that, and after I saw that we were getting on well, it was really jolly. We all joked and laughed and cheered constantly.”
    —Rutherford Birchard Hayes (1822–1893)