Revolving credit facility: Difference between revisions

Revision as of 08:31, 26 April 2020

The Jolly Contrarian’s Glossary
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A fancy expression for an overdraft. Those with an appetite for financial slang call these “revolvers”.

Why “revolving credit facility”? Well, a “credit facility” means an arranged loan; if it “revolves” that means the amount you can borrow under it from time to time can wax and wane. If you pay it down, you can withdraw again later.

In other words, an overdraft.

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 {{a|g|[[File:Trigger.jpg|450px|thumb|center]]}}A fancy expression for an [[overdraft]]. Those with an appetite for financial slang call these “[[revolver]]s”.
-Why “[[revolving credit facility]]”? Well, a “credit facility” means an arranged [[loan]]; if it “revolves” that means the amount you can borrow under it [[from time to time]] can wax and wane. If you pay it down, you can withdraw again later.
+Why “[[revolving credit facility]]”? Well, a “[[credit facility]]” means an arranged [[loan]]; if it “revolves” that means the amount you can borrow under it [[from time to time]] can wax and wane. If you pay it down, you can withdraw again later.
 In other words, an [[overdraft]].