Responses
It is only available to individuals with excellent credit scores.
It is only available to individuals with excellent credit scores.
It allows you to borrow up to a certain limit and renews as you pay it back.
It allows you to borrow up to a certain limit and renews as you pay it back.
You must pay off the entire balance every month.
You must pay off the entire balance every month.
It has a fixed interest rate that never changes.
1 answer
The accurate statement about revolving credit is:
It allows you to borrow up to a certain limit and renews as you pay it back.
Revolving credit allows borrowers to access a credit limit, make purchases, and as they pay back the borrowed amount, they can borrow again up to the limit. This is a defining characteristic of revolving credit, such as credit cards.
