Post by victorgrant on Mar 8, 2018 7:47:33 GMT -5
Hi,
In the case of a revolving credit, you agree with a lender that you will have access to a certain credit margin. Within this space you may withdraw money without permission. There is always an obligation to repay your loan, however the amount may be withdrawn again. Every month you either pay a fixed amount (usually 2% of the credit limit, lower is often possible) or a variable amount. You only pay the interest on the withdrawn balance and is always variable. No collateral is required for this loan.
For more Details:
Web Explainer Video
In the case of a revolving credit, you agree with a lender that you will have access to a certain credit margin. Within this space you may withdraw money without permission. There is always an obligation to repay your loan, however the amount may be withdrawn again. Every month you either pay a fixed amount (usually 2% of the credit limit, lower is often possible) or a variable amount. You only pay the interest on the withdrawn balance and is always variable. No collateral is required for this loan.
For more Details:
Web Explainer Video