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revolving credit

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noun
  1. credit automatically available up to a predetermined limit while payments are periodically made.Compare credit line(def 2).

Origin of revolving credit

First recorded in 1915–20
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
British Dictionary definitions for revolving credit

revolving credit

noun
  1. a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012