revolving credit (also open credit) noun [U,C] (also revolving line of credit, revolving loan [C])

(Finance )

an agreement with a bank, etc. in which sb is allowed to borrow up to a particular amount. If they pay back part of the loan they can then borrow more money up to the agreed limit:

Consumers cut back on their use of revolving credit last year by $3.9 billion.

The company has negotiated a €500 million revolving credit facility.

• purchase agreement
• purchase invoice
• purchase ledger
• purchase order
• purchase price
• purchaser
• purchase requisition
• purchasing
• purchasing officer
• purchasing power
• purchasing power parity
• pure monopoly
• pure play
• pure profit
• purse
• pursuant
• pursue
• purveyor
• push
• push strategy
• push system
• put
• put option
• PV
• p.w.