SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549


                           FORM 10-K


(Mark One)
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934 
     For the fiscal year ended December 31, 1998

                               OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the transition period from ______ to _______

                  Commission File No. 000-20909

             REVOLVING HOME EQUITY LOAN TRUST 1996-1
     (Exact name of Registrant as specified in Department
      of the Treasury, Internal Revenue Service Form SS-4)


HOUSEHOLD FINANCE CORPORATION
(Master Servicer of the Trust)
(Exact name as specified in Master Servicer's charter)



            DELAWARE                      36-3670374             
(State or other jurisdiction of   (I.R.S. Employer Identification
incorporation of Master Servicer) Number of Registrant)


 2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS         60070   
(Address of principal executive offices of Master    (Zip Code)
Servicer)


Master Servicer's telephone number, including   (847) 564-5000 
area code


Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.

                         Yes   X            No _____

The aggregate principal amount of the Certificates held by non-
affiliates of the Master Servicer as of December 31, 1998 was
approximately $819.3 million.
<PAGE>
INTRODUCTORY NOTE




     HFC Revolving Corporation, as seller  (the "Seller") under a
Pooling and Servicing Agreement (the "Agreement") dated as of May
1, 1996, by and among the Seller, Household Finance Corporation, as
Master Servicer (the "Master Servicer") and The First National Bank
of Chicago, as trustee (the "Trustee") providing for the issuance
of Revolving Home Equity Loan Asset Backed Certificates, Series
1996-1 (the "Certificates") and are originators of the trust called
the Revolving Home Equity Loan Trust 1996-1 (the "Registrant" or
the "Trust"). 

     Each Certificate represents an undivided interest in the
Trust.  The Certificates consist of one class of certificates (the
"Class A Certificates").  Payment of principal and interest to the
holders of the Certificates is supported by a $475 million
principal and interest surety bond issued by Capital Markets
Assurance Corporation.  This Form 10-K has been prepared with
reduced disclosure in accordance with past exemptions from
reporting requirements granted by the Securities and Exchange
Commission (the "Commission") under Section 13 of the Securities
Exchange Act of 1934 (the "Act") received by the Master Servicer
for trusts substantially similar to the Trust.  Items designated
herein as "Not Applicable" have been specifically omitted in
reliance on such prior exemptions.

<PAGE>

PART I


Item 1.   Business.

          Not Applicable.


Item 2.   Properties.

          Not Applicable.


Item 3.   Legal Proceedings.

          The Master Servicer is not aware of any material pending
          legal proceedings involving either the Registrant, the
          Trustee, the Sellers or the Master Servicer with respect
          to the Certificates or the Registrant's property.


Item 4.   Submission of Matters to a Vote of Security Holders.

          No vote or consent of the holders of the Certificates
          (the "Certificateholders") was solicited for any purpose
          during the year ended December 31, 1998.




PART II


Item 5.   Market for Registrant's Common Equity and Related
          Stockholder Matters.

          To the best knowledge of the Master Servicer, there is no
          established public trading market for the Certificates. 
          As of February 3, 1999, there were 13 Class A
          Certificateholders, some of whom may be holding
          Certificates for the accounts of others.


Item 6.   Selected Financial Data.

          Not Applicable.


<PAGE>
Item 7.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations.

          Not Applicable.


Item 8.   Financial Statements and Supplementary Data.

          Not Applicable.


Item 9.   Changes in and Disagreements with Accountants on
          Accounting and Financial Disclosure.

          None.




PART III


Item 10.  Directors and Executive Officers of the Registrant.

          Not Applicable.


Item 11.  Executive Compensation.

          Not Applicable.


Item 12.  Security Ownership of Certain Beneficial Owners and
          Management.

          The following table sets forth (i) the name and address
          of each entity owning more than 5% of the outstanding
          principal amount of the Class A Certificates; (ii) the
          principal amount of Certificates owned by each, if known,
          and (iii) the percent that the principal amount of
          Certificates owned represents of the outstanding
          principal amount of the Class A Certificates.  The
          information set forth in the table is based upon
          information obtained by the Master Servicer from the
          Trustee and from The Depository Trust Company as of
          February 3, 1999.  The Master Servicer is not aware of
          any Schedules 13D or 13G filed with the Securities and
          Exchange Commission in respect of the Certificates.

<PAGE>
                                             Amount Owned

                                        All dollar amounts are
                                             in thousands
                                        
Name and Address                        Principal      Percent


Certificateholders 


The Bank of New York                    $124,003        15.14
925 Patterson Plank Road
Secaucus, NJ 07094

Bankers Trust Company                   $ 57,500         7.02
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211

Boston Safe Deposit & Trust Company     $ 76,700         9.36
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259

Chase Manhattan Bank                    $219,750        26.82
One Chase Manhattan Plaza
3B - Proxy Department
New York, NY 10081

Citibank, N.A.                          $105,500        12.88
P. O. Box 30576
Tampa, FL 33630-3576

State Street Bank & Trust Company       $113,000        13.79
Global Corp. Action Dept. JAB5W
P. O. Box 1631
Boston, MA 02105-1631



Item 13.  Certain Relationships and Related Transactions.

          None or Not Applicable.







<PAGE>
PART IV

Item 14.  Exhibits, Financial Statement Schedules, and Reports on
          Form 8-K.

          (a)  List the following documents filed as a part of the
               report:

               (1)  Financial Statements

                    Not Applicable.

               (2)  Financial Statement Schedules

                    Not Applicable.

               (3)  The Master Servicer is obligated to prepare an
                    Annual Statement to Certificateholders for the
                    year ended December 31, 1998 and the
                    Independent Public Accountants are required to
                    prepare an Annual Servicing Report pertaining
                    to the compliance of the Master Servicer with
                    its servicing obligations pursuant to the
                    Agreement for such year.  Copies of said
                    documents are or will be filed as exhibits to
                    this Form 10-K when they are available.

          (b)  The Registrant filed the following current reports
               on Form 8-K for the fourth quarter of 1998:

               Date of Reports     Items Covered

               October 20, 1998    Item 7 -- Statement with respect
               November 20, 1998   to distributions made on
               December 21, 1998   October 20, 1998, November 20,
                                   1998 and December 21, 1998.

          (c)  Exhibit 99.  Annual Statement to Certificateholders
               for the year ended December 31, 1998.

          (d)  Not Applicable.


<PAGE>


SIGNATURES




     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Master Servicer has duly
caused this report to be signed on behalf of the Revolving Home
Equity Loan Trust 1996-1 by the undersigned, thereunto duly
authorized.




                          HOUSEHOLD FINANCE CORPORATION,
                    as Master Servicer of and on behalf of the

                     REVOLVING HOME EQUITY LOAN TRUST 1996-1
                                 (Registrant)




Date:  February 25, 1999      By:/s/ John W. Blenke         
                                 John W. Blenke
                                 Assistant Secretary


















<PAGE>
                           Exhibit Index


Exhibit No.    Exhibit                                      Page No.

99             Annual Statement to Certificateholders          9
               for the year ended December 31, 1998