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Revolving Line of Credit
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| - | A bank line of credit for which customers pay fees and can then take [[Money|money]] according to their needs. Also known as a revolver. | + | A bank line of credit for a specific amount. Once repaid, the money can be continually re-borrowed, in whole or in part, so long as the credit limit is not exceeded. Also known as a revolver. |
Revision as of 16:43, 2 January 2009
A bank line of credit for a specific amount. Once repaid, the money can be continually re-borrowed, in whole or in part, so long as the credit limit is not exceeded. Also known as a revolver.