What Is Revolving Credit?

Share this article:
Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
How Does Revolving Credit Work?
Revolving Credit Interest Rates Vary
Four Examples of Revolving Credit
Personal Line of Credit
Home Equity Line of Credit (HELOC)
Business Line of Credit:
Credit Cards
Alternative Options to Revolving Credit
Personal loan Loan from online lender Loan from friends or family
SBA loans. With their generally longer repayment terms, it's a good idea to learn how SBA loans work. Merchant cash advances, which allow a business to borrow against future sales. These, however, can be costly, so it’s a good idea to fully research all of the ins and outs. Equipment financing
The Takeaway
SOLC21034
About the Author
Lantern is a product comparison site that makes it easy for individuals to shop for products and compare offers with top lenders. Lantern is owned and operated by SoFi Lending Corp., the digital personal finance company that has helped over one million people get their money right.
Share this article: