Revolving Credit

Balance transfer APR means the annual percentage rate applied to transferred debt on a credit-card account.

Balance transfer balance is the portion of a revolving balance that came from debt moved from another account.

Billing cycle means the recurring period used to group account activity before a statement is issued.

Cash advance APR means the annual percentage rate that applies to cash-advance balances on a credit-card account.

Cash advance balance is the portion of a revolving balance created by cash-advance transactions.

Credit line is the approved dollar amount a borrower can use on one revolving account.

Draw period is the part of a revolving line when the borrower can still take new advances under the agreement.

Due date means the deadline for making the required payment on a revolving credit account.

Interest accrual means borrowing cost keeps building on an unpaid balance over time under the account's pricing rules.

Credit limit increase means a lender's decision to raise the maximum amount available on a revolving account.

Credit line decrease means a lender lowers the amount available on an existing revolving account.

Line of credit means a reusable borrowing arrangement that lets the borrower draw, repay, and draw again up to an approved limit.

Line utilization measures how much of one revolving account's credit line is currently in use.

Statement notice showing how long repayment may take and how much debt may cost at minimum-only payment pace.

Open to buy is the spending room still available on a revolving account after balances and other holds are counted.

Over-the-limit means the balance or account activity has gone beyond the approved credit limit.

Prime rate is a public benchmark often used as the index for variable-rate consumer credit such as cards and lines of credit.

Promotional balance is the part of a revolving account carrying temporary special pricing or terms.

Purchase APR means the annual percentage rate that applies to ordinary purchase balances on a revolving account.

Purchase balance is the portion of a revolving balance that comes from ordinary card purchases.

Rate margin is the fixed number of percentage points added to an index such as prime to set a variable consumer credit rate.

Revolving account means an open credit account that can be reused as balances are repaid.

Revolving balance is the amount currently owed on a reusable credit line such as a credit card or line of credit.

Revolving-credit terms that explain reusable limits, changing balances, and the account dynamics behind utilization and minimum payments.

Revolving credit means reusable borrowing that allows balances to rise and fall within an approved limit.

Statement closing date means the date when a billing cycle ends and the statement balance is set.

Variable APR means an annual percentage rate that can change over time based on the account terms and market benchmarks.