Real Estate Terms Glossary
What is Revolving Debt?
Revolving debt generally refers to funds you owe from an account, which allows you to borrow money against a credit line. Note that revolving debt differs from a term loan or fixed payment loan with a guaranteed balance. Rather, the payments of revolving debt are often based on the monthly credit balance.
So, revolving debt doesn’t have any fixed monthly payment in the same way that an auto loan or mortgage does.
Examples of Revolving Debt
- Example 1: Balances you owe on credit cards
- Example 2: Balances you owe on a personal line of credit
Here’s Investopedia’s definition of Revolving Debt .
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