May 2021 4 61 Report
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Revolving credit is generally credit that is instantly available but doesn't have a structured repyment schedule.

The example that alot of people will be familiar with is an overdraft on a current account. Say your overdraft limit is £1000. You can go £500 overdrawn whenever you like, and as long as you regularly use your account, there will be no repyament structure. You can pay off your overdraft in full whenever you want. You can then borrow something at a later date without another agreement. This is an example of revolving credit.

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