What is a revolving account on a credit report?

Answer Accounts listed on a credit report that have fluctuating balances are categorized as a revolving credit account. These are accounts in which balances can go up or down each month, and are not close... Read More »

Top Q&A For: What is a revolving account on a credit report

What does the term"revolving"mean on a credit report?

Revolving credit on a credit report refers to accounts, usually credit cards, that have a maximum amount of extended credit and a minimum payment (including service charges) due at a specific time ... Read More »

What does account update mean on a TransUnion credit report?

A TransUnion credit report may show account updates. Updates are changes in information reported to the lender. These could include changes in contact information or the amount due. Verify these ... Read More »

Will a credit report list money in a PayPal account?

A PayPal account is a deposit account just like a standard checking or savings account. These types of accounts do not appear on your credit report and have no impact on your credit score. Lenders ... Read More »

How long after you pay a collections account does it take to be removed from your credit report?

It can take up to seven years to have a collections account removed from your credit report after payment. The seven-year period starts from the time the event took place.Source:Federal Trade Commi... Read More »