Revolving Credit

A limit increase is a change that raises the approved borrowing ceiling on a revolving account.

A line of credit is a reusable borrowing limit that lets a borrower draw, repay, and borrow again.

Canadian borrowing terms for personal loans, lines of credit, and the difference between fixed and reusable debt.

A promotional balance transfer is a limited-time offer that applies special pricing or terms to transferred card debt.

A purchase interest rate is the credit-card rate that applies to ordinary purchases when the balance is carried.

Revolving credit is borrowing with a reusable limit that can be spent, repaid, and used again.

A secured line of credit is a reusable borrowing limit backed by collateral accepted by the lender.

An unsecured line of credit is a reusable borrowing limit that is approved without specific pledged collateral.

A variable interest rate can change over time under the terms of the credit agreement.