A revolving credit is a reserve of money that you get from a specialized agency or a brand and that you can use whenever you want according to your expenses. Once this credit is partially or – in some cases – completely used up, you have to repay monthly payments, which constitutes a new reserve of money. Once the exact amount is reached, you can again draw on your revolving credit for your purchases. Today, three types of cards are compatible with revolving credit.
The private card: each sign has its own!
This card is exclusively distributed and usable in stores of the brand or group which grants it to you. So, if you get a card at Best Bank, you can only use it to pay for the purchase of products in these stores. Some also serve as loyalty cards in department stores such as Printemps or Galeries Lafayette, supermarkets such as Auchan or Carrefour or stores that sell their products remotely like La Redoute or 3 Suisses. Most of the time, payment with these cards can be immediate or deferred. It is also possible to pay cash or on credit.
The multi-brand card: greater freedom
In order to give merchants and their customers more room for maneuver, certain credit institutions have established an agreement with a large number of brands. People who subscribe to cards issued by these establishments can therefore go to many stores, not always from the same group, and pay for their purchases with the same card and according to the same rules as the private card.
Credit card: a bank card
The last type of card compatible with revolving credit is issued by specialized credit agencies and can be used as freely as a conventional bank card: it can be used to pay for the product you want in any which shop or on any site. Cards can be stamped CB, Visa or Mastercard depending on the establishments that issue them.
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