revolving credit With a revolving credit, you agree on a credit limit with the lender before the start of the credit, set $ 10,000. You can then withdraw that amount immediately if you want to purchase a product.
From the first withdrawals, you also have to start paying off, paying a fixed amount every month.

If you have taken out a revolving credit , you can also withdraw the limit in parts, for example $ 6,000 and then $ 4,000. It is not at all necessary to withdraw the loan amount in one go.
In this situation, too, you pay a fixed monthly amount.
The interest with a revolving credit is lower than with the personal loan and many other corresponding loan forms .

However, the interest rate is variable and fluctuates daily. Because the monthly amount remains the same, you cannot know in advance how long you need to repay.
Examples of providers of revolving credit loans include:

Credit Competitor
Credit spotter
The Loan Broker