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Consumer credit, or consumer debt, is personal debt taken on to purchase goods and services. Although any type of personal loan could be labeled consumer credit, the term is...
Consumer credit, often referred to as consumer debt, is a financial tool that individuals use to make immediate purchases of goods and services. Unlike secured loans, consumer credit is not collateralized, making it a flexible option for smaller amounts.
A consumer credit system allows consumers to borrow money or incur debt, and to defer repayment of that money over time. Having credit enables consumers to buy goods or assets without having to pay for them in cash at the time of purchase.
Consumer credit is money consumers borrow and repay over time. Banks, financial institutions, and businesses extend credit based on a consumer's borrowing history and ability to repay. Consumer credit can be secured or unsecured. Consumers can access credit products by applying with a lender or creditor.
Consumer credit refers to the ability of a consumer to access a loan. The most common form of credit used by consumers is a credit card account issued by a financial institution. Merchants may also provide direct financing for products which they sell.
Consumer credit provides access to more spending power, which enables you to do things like take out a home loan or make purchases with a credit card. Responsible use of consumer credit can open doors to new opportunities, but borrowing also has the potential to result in unmanageable levels of debt.
consumer credit, short- and intermediate-term loans used to finance the purchase of commodities or services for personal consumption or to refinance debts incurred for such purposes. The loans may be supplied by lenders in the form of cash loans or by sellers in the form of sales credit.
Consumer credit is debt taken on by a consumer, typically to be repaid with interest in the future. As an economic indicator, consumer credit is used to gauge the indebtedness of...
The meaning of CONSUMER CREDIT is credit granted to an individual especially to finance the purchase of consumer goods or to defray personal expenses.
Consumer credit is a type of personal loan granted to individuals to finance consumer goods and services. This financial instrument allows consumers to obtain goods or services immediately while committing to repay the borrowed amount, plus any accrued interest, over a period of time.