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.
Read more about Revolving Credit: Typical Characteristics, Examples
Famous quotes containing the words revolving and/or credit:
“A man so various, that he seemed to be
Not one, but all mankind’s epitome.
Stiff in opinions, always in the wrong;
Was everything by starts, and nothing long:
But in the course of one revolving moon
Was chemist, fiddler, statesman and buffoon.”
—John Dryden (1631–1700)
“My credit now stands on such slippery ground
That one of two bad ways you must conceit me,
Either a coward or a flatterer.”
—William Shakespeare (1564–1616)