Editing Revolving credit (section)

{{Short description|Type of credit that does not have a fixed number of payments}}
{{More citations needed|date=December 2009}}
'''Revolving credit''' is a type of [[Credit (finance)|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's|Strawbridge and Clothier Department Store]].<ref>{{cite web |url=http://www.creditratings101.com/types-of-credit/revolving-credit/ |archive-url=https://web.archive.org/web/20111220093307/http://www.creditratings101.com/types-of-credit/revolving-credit/ |archive-date=December 20, 2011 |title=Revolving Credit |website=www.creditratings101.com |url-status=dead }}</ref>

It is an arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any manner and any number of times, until the arrangement expires. Credit card loans and overdrafts are revolving loans, also called evergreen loan.<ref>{{cite web|url=http://www.businessdictionary.com/definition/revolving-loan.html|title=What is revolving loan? definition and meaning|website=BusinessDictionary.com}}</ref>