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Meaning & use

revolving credit debt

noun·Advancedfinancebusiness

Last updated

UK/rɪˈvɒlvɪŋ ˈkrɛdɪt dɛt/
US/rɪˈvɑːlvɪŋ ˈkrɛdɪt dɛt/

Meanings

  1. noununcountable

    Money owed on a credit account that can be borrowed again as it is repaid, such as a credit card balance.

    Grammar: Uncountable; used without 'a' or plural: pay off revolving credit debt.

    Patterns

    • pay off revolving credit debt
    • carry revolving credit debt
    • reduce revolving credit debt

    She is working hard to pay off her revolving credit debt.

    Many families struggle with high revolving credit debt.

    The bank reported an increase in revolving credit debt among customers.

  2. noununcountablefinance

    The total amount of such debt held by a person, company, or country.

    Grammar: Uncountable; often used with 'the' when referring to a specific total.

    Patterns

    • the revolving credit debt of
    • total revolving credit debt

    The country's revolving credit debt reached a record high.

    Analysts are concerned about the level of revolving credit debt in the economy.

Common combinations

pay off revolving credit debt
He used his bonus to pay off revolving credit debt.
carry revolving credit debt
It's expensive to carry revolving credit debt from month to month.
reduce revolving credit debt
The first step is to reduce revolving credit debt by making larger payments.
high revolving credit debt
High revolving credit debt can hurt your credit score.

Synonyms and how they differ

credit card debt
A more specific term for money owed on credit cards; 'revolving credit debt' also includes other revolving accounts like lines of credit.
revolving debt
A shorter form that means the same thing; 'revolving credit debt' is slightly more formal.

Opposites

savingscredit balance

Word family

revolve verb
To go around a central point; in finance, to be renewed or extended automatically.
revolving adjective
Describing a credit account that is automatically renewed as long as payments are made.

Commonly confused: revolving credit debt or installment debt?

revolving credit debt vs installment debt

Debt paid in fixed installments, like a car loan; revolving credit debt allows repeated borrowing and variable payments.

Practice

Which of the following is an example of revolving credit debt?

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