A revolver is a borrower, an individual or a legal entity, who carries over the balance of a revolving line of credit from month to month.
The term comes from a revolving loan, a type of financing that allows the borrower to maintain an open line of credit up to a certain limit and make minimum monthly payments based on the balance and interest rate as per the loan agreement.
Non-revolving financing involves a loan for which the borrower is given a lump sum payment, which, in turn, must make fixed payments in accordance with the schedule.
Low starting rates and bonuses make revolving credit lines attractive to consumers and small businesses.