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:
“Industrial man—a sentient reciprocating engine having a fluctuating output, coupled to an iron wheel revolving with uniform velocity. And then we wonder why this should be the golden age of revolution and mental derangement.”
—Aldous Huxley (1894–1963)
“Japanese mothers credit “effort” as the key determinant of a child’s achievement in school, while American mothers name “ability” as the more important factor.”
—Perry Garfinkel (20th century)