"Revolving charge account" defined.

S.C. Code Ann. § 37-2-108
in effect
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"Revolving charge account" means an arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (2) the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account; (3) a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and (4) the buyer has the privilege of paying the balances in installments.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t37c002.phpFetched: 10/17/2026

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