Revolving credit

With a revolving credit it is possible to keep a little more money on hand, so that any setbacks can be absorbed more easily. What many people do not know is that they often have a revolving credit as standard. Anyone with a bank account where it is possible to be in the red can use it. This immediately makes it clear how simple this way of borrowing works, so that it is not necessary to think about it as something that is very complex. A revolving credit is nothing more than a buffer to cope with financial setbacks, so that they cannot immediately cause problems or saddle you with an expensive loan that you cannot just get rid of.

A lot of flexibility

The most important aspect of revolving credit is the high degree of flexibility. Unlike with a personal loan, nothing is actually set in advance. This is partly due to the fact that it is not clear at the beginning how much you will actually borrow . A revolving credit works with a maximum amount to be borrowed, within which you can determine how much money you want to withdraw from it. For example, it is possible to borrow half when things go a little less and to pay off a large part in better times. The amounts that are repaid within the revolving credit may then also simply be withdrawn again, so that a pool of money has become available, as it were, from which something can be obtained from time to time. In addition to the amount to be borrowed, the interest is often variable, as is the term. The revolving credit can be held for a very long time and, for example, be repaid several times in the meantime.

Revolving credit: variable costs

With a revolving credit you only pay for the money that you have actually withdrawn. This means that the maximum amount to be borrowed is not linked to the costs, but that the amount withdrawn is this. By making interim repayments, you can therefore easily reduce costs, since there is no penalty if you want to make interim repayments. The revolving credit is therefore extremely flexible and makes it possible to occasionally withdraw some extra money, or to reduce the costs with a repayment.


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