Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store.
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Famous quotes containing the words revolving and/or credit:
“An English family consists of a few persons, who, from youth to age, are found revolving within a few feet of each other, as if tied by some invisible ligature, tense as that cartilage which we have seen attaching the two Siamese.”
—Ralph Waldo Emerson (1803–1882)
“Most of the money given by rich people in “charity” is made up of conscience money, “ransom,” political bribery, and bids for titles.... One buys moral credit by signing a cheque, which is easier than turning a prayer wheel.”
—George Bernard Shaw (1856–1950)