Ever considered applying for a credit card or a home equity line of credit? If so, you probably have an idea of how revolving credit works. These are common examples of revolving credit. Revolving credit accounts allow you to borrow up to a limit, repay what you owe, and borrow again from the same account. You can use revolving credit to finance major expenses such as home renovations or even day-to-day expenses such as gas and groceries.
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What is Revolving Credit?
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Build credit with responsible use(Secured): Discover reports your credit history to the three major credit bureaus so it can help build/rebuild your credit if used responsibly. Late payments, delinquencies or other derogatory activity with your credit card accounts and loans may adversely impact your ability to build/rebuild credit.
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No Credit Score Required to Apply (Secured): Based on 2023 Discover it Secured credit card application data, applicants without a credit score may qualify. You must meet other applicable underwriting criteria. When we evaluate your creditworthiness, we consider all the information you provide on your application, your credit report, and other information. If you have a credit score, we may use that in our evaluation.
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