Respuesta :
Jim used revolving credit for his annual checkup.
The most you can spend on a revolving credit account is called the credit limit. You have the option of paying off the entire balance at the end of each billing cycle, carrying a balance over to the next month, or "revolving" the balance.
You'll be required to pay the minimum payment each month if you revolve a balance. You can discover further information in the fine print of your revolving credit agreement. This could be a fixed amount, like $25, or a percentage of your overall balance, whichever is higher. On the sum that is carried over from month to month, you will also be charged interest. Revolving credit is a term used to describe borrowing against a credit line. Assume a lender grants you a certain amount of credit that you can use again. The amount of credit you are permitted to use each month is known as your credit line or credit limit. You are free to use all or a portion of your credit limit for any purchase.
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