A credit sweep is a cash management tool offered by banks to help customers manage their accounts. It is an arrangement between a bank and a customer, usually a corporation, whereby all idle or excess funds in a deposit account are automatically transferred to pay down the outstanding amount on a loan. This type of arrangement is set up automatically and helps customers reduce their costs paid through interest on outstanding debt. Most credit sweeps also have the opposite arrangement, whereby if the funds in the account are less than the target balance, there will be a drawdown on the line of credit to reach the target. The "sweep" part of a credit sweep is financial jargon; as in, the bank "swept" the remaining balance in one account to another.

It is important to note that a credit sweep can also refer to an action taken by a credit repair company that claims to "sweep" a credit report and dispute all negative items at one time. However, this type of credit sweep is illegal and considered a scam. Credit repair companies may charge high fees for this service, but any action performed by a credit repair company can be done on your own. Disputing individual issues and fixing errors on your credit report yourself can save you thousands of dollars in fees.