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Number of revolving accounts

How many revolving accounts are there?

Not known

The number of revolving accounts in the world is not known.  Not too many people know that a revolving account is an account created by a lender to represent debts where the outstanding balance does not have to be paid in full every month by the borrower to the lender. The main idea is that the borrower may be required to make a minimum payment, based on the balance amount.   The person who borrows funds normally has the possibility to pay the lender any amount between the minimum payment and the full balance.

This fact is verified on : January 14, 2014.





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