revolving account

English - Turkish

Definition of revolving account in English Turkish dictionary

döner hesabı

English - English

Definition of revolving account in English English dictionary

An account, which requires at least a specified minimum payment each month plus a service charge on the balance As the balance declines, the amount of the service charge, or interest, also declines

An account with no set term of when the money borrowed has to be paid back The balance owed can change, as can the payment being made Most credit card accounts are revolving

An account, which requires at least a specified minimum payment, each month plus a service charge on the balance As the balance declines, the amount of the service charge, or interest, also declines

A type of credit account where a consumer has the option to pay the debt in full each month or to make a minimum monthly payment based upon the outstanding balance Examples include department stores, gas and oil companies and bank-issued credit cards

Related Terms

revolving charge account

a charge account that does not have to be paid to zero balance

Hyphenation

re·vol·ving ac·count

Turkish pronunciation

rivälvîng ıkaunt

Pronunciation

/rēˈvälvəɴɢ əˈkount/ /riːˈvɑːlvɪŋ əˈkaʊnt/