A revolving credit card or a deferred payment card is a type of credit card in which you repay the credit that you used over time instead of all at once at the end of the agreed settlement period. It consists of repaying the credit used in convenient instalments by paying an associated interest that is detailed in each case in both the pre-contractual information and in the contract. In any case, interest is generated as soon as you make a purchase.
In addition, the credit is revolving, meaning that it goes down when you make credit payments with the card but as you pay off the credit that you use, it becomes available again for future purchases.
The deferred repayment of credit will depend on how much you choose to repay each month and whether you continue to draw down further credit simultaneously. The higher the monthly instalment selected, the sooner you will repay the credit drawn down and, therefore, the lower the cost of the credit, as you will pay interest for less time, and more of the monthly instalment will be used to repay the principal.
There is no limit to the amount of the monthly payment, meaning you can choose a monthly instalment that pays off the full amount of credit used that month, at the end of the month, but paying interest from the time you used the credit until said credit is paid off in full.
Bear in mind that any credit card can be converted into a revolving card if it has, among its payment methods, the revolving payment method for repaying the credit and you choose this method.