R
Credit
Revolving Credit
Credit that you can use, pay back, and use again without reapplying every time. Credit cards are the classic example — you've got a R20,000 limit, you can spend it, pay it off, and spend it again. The danger is you get comfortable and never actually pay it all off.
Usage Examples
"Nomsa's Woolworths card is revolving credit. She's had it for three years and keeps using it and paying the minimum. She'll probably be paying it off forever."
"Revolving credit is flexible — lekker for stuff that comes and goes. But it's also a trap if you use it as a lifestyle. Your credit score gets smashed when your balance stays high."
"Store cards like Pick n Pay and Edgars are revolving credit too. If you keep using them, you'll always owe money. Try paying more than the minimum every month."