revolving charge account

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Definitions from WordNet

Noun revolving charge account has 1 sense

revolving charge account - a charge account that does not have to be paid to zero balance
--₁ is a kind of credit account, charge account, open account

Definitions from the Web

Revolving Charge Account

Description:

A revolving charge account refers to a type of credit account that allows the holder to make purchases on credit and repay the balance over time, with the option to carry a balance from one month to the next. It offers a continuous line of credit based on a predetermined credit limit, with interest charged on the unpaid balance.

Examples:

Example 1 - Noun:

She opened a revolving charge account at the department store, enabling her to buy now and pay for the purchases later.

Example 2 - Verb:

He decided to apply for a revolving charge account to make it easier to manage his monthly expenses.

Example 3 - Adjective:

The credit card company offered her a revolving charge account with a generous credit limit.

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