revolving credit

A consumer-credit arrangement that allows the borrower to buy goods or secure loans on a continuing basis as long as the outstanding balance does not exceed a specified limit.

— Also termed open credit; revolving charge account. Cf. revolver loan under LOAN. [Cases: Consumer Credit 34. C.J.S. Interest and Usury; Consumer Credit § 319.]

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词条贡献者

译者Jenny，毕业于英国顶尖的高级翻译学院，擅长翻译各种与ERISA 诉讼相关的法律文件。