revolving charge account
- noun
- /rɪˈvɑlvɪŋ tʃɑrdʒ əˈkaʊnt/
- Specialized
:
cuenta de crédito revolving
- If you keep a balance on your revolving charge account, you'll accrue interest until it's paid off.
Examples
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He opened a revolving charge account at the department store to make monthly purchases.
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I opened a revolving charge account at my favorite store.
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The interest rate on a revolving charge account can be much higher than on other types of loans.
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Do you have a revolving charge account with that bank?
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Many shoppers prefer a revolving charge account because it allows them to make purchases without paying the full balance each month.
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With a revolving charge account, you can manage your expenses by paying a portion of your bill each cycle.
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She opened a revolving charge account at her favorite store to help spread out the cost of her purchases.
Synonyms
1
5.6
A loan you can use again up to a set limit while you repay the balance
A way to buy now at a shop and pay later up to a set limit you can repay anytime
Surface Forms
Morphology
The parts (revolve + charge + account) give a loose hint of something recurring or rotating about payments, but the specific banking sense — an account that allows you to carry a balance month to month — is a conventionalized financial usage that a B1 learner knowing only the literal meanings would not reliably infer. The metaphorical extension of 'revolving' to mean 'carry over/renew credit' is partially predictable but requires domain knowledge, so it is not fully transparent.
Etymology
Revolving charge account comes from the image of something that keeps turning: revolving like a wheel and charge account as a place where you put purchases to pay later. So you can 'carry a balance' and not pay the full amount each month, because the debt keeps moving 'month to month'.