Sentences with phrase «revolving credit lines intended»

Credit cards are revolving credit lines intended for short - term financing of purchases and are designed to be paid off at the end of each statement cycle.

Not exact matches

While revolving credit lines can be excellent for financing purchases on a regular basis, they aren't actually intended to be used in place of cash — so they charge you fees for the privilege.

Isn't it true that when someone has an equity line of credit it is assumed that the entire amount is withdrawn and owing > In reality many people have it there as a safety precaution, or, use it as was intended as a revolving line of credit.