*Loan,banking and credit>>>credit line

What鈥檚 the different between a line of credit and what is called revolving credit?

A line of credit could be revolving, which means that you can make a payment towards it and borrow more at the same time. Credit cards are an example of a revolving line of credit. An installment loan is something else: a total amount due and periodic payments over time that will eventually pay it off completely. An automoble loan is an example of an installment loan. Revolving credit could go on and on forever, like a revolving door: pay it down, borrow more, pay it down, borrow more, etc. An installment loan does not give you this option to borrow more as you pay it down.

I have a line of credit it is unsecured debt has a higher limit and rate is tied to prime rate. Prime changes so does the rate. I can put something on my line of credit and change it to a fixed loan with fixed payment at later date. I can access line with checks or a credit card.

My regular revolving (VISA) credit has smaller limits also is unsecured debt has an arbitrarily set rate (whatever is marketable I assume) which doesn't change as frequently.