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:
“Trees appeared in groups and singly, revolving coolly and blandly, displaying the latest fashions. The blue dampness of a ravine. A memory of love, disguised as a meadow. Wispy clouds—the greyhounds of heaven.”
—Vladimir Nabokov (1899–1977)
“In a secular age, an authentic miracle must purport to be a hoax, in order to gain credit in the world.”
—Angela Carter (1940–1992)