Revolving Debt vs Installment Debt
Understanding how repayment works for different types of debt is often the key to success.
Managing debt is essential if you want to maintain financial control. That means it’s critical that you understand how different types of debt work, so you can pay them off effectively. One of the key differences with debt is revolving debt vs installment debt. Credit cards are revolving debt, and they operate very differently from installment debts, like your mortgage or auto loan.