A floating-ring bearing (FRB) is composed of a journal, a floating ring and a housing which are separated by two thin oil films. This system is inherently nonlinear and if it is lightly loaded or operated at high speeds, it is prone to the fluid-induced instability. The threshold speed for the instability of a journal bearing with one oil film can be estimated using linearized forces acting in the film. However, the linear analysis of FRB might be problematic because results of such an analysis are usually difficult to interpret. Nevertheless, the linear analysis can provide some fundamental insights into system behaviour. This work aims to evaluate in detail the use of linear theory in the stability analysis of rotating systems supported on FRBs. Several approaches for the linearization of the forces acting in FRB are proposed and analysed. The results are visualized in the form of a holistic Campbell diagram which together depicts natural frequencies, whirl frequencies, modal damping and precession of mode shapes. Moreover, it is demonstrated that the holistic Campbell diagram can be used to interpret-and to some extent, also to predict-results of nonlinear analysis.