consumer credit

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Related to consumer credit: commercial credit, investment credit

Consumer credit

Credit a firm grants to consumers for the purchase of goods or services. Also called retail credit.

Consumer Credit

Any loan or line of credit that a borrower uses to purchase goods and services at the retail level. Typically, consumer credit finances any asset that depreciates quickly and is not used for investment purposes. Credit cards are a common example of consumer credit because one pays for ordinary expenses such as groceries or gasoline with a credit card; one ordinarily would not purchase stock with a credit card. Loans for education and cars are also examples of consumer credit. However, consumer credit expressly excludes loans for real estate.

consumer credit

LOANS made available to buyers of products to assist them in financing purchases. Consumer credit facilities include HIRE PURCHASE, INSTALMENT CREDIT, BANK LOANS and CREDIT CARDS.
References in periodicals archive ?
The average amount of consumer credit (both below and above EUR 290) was EUR 680 (compared to almost EUR 540 the year before), the average annual percentage rate of charge fell from 77 per cent to 60 per cent, while the average interest rate from 46 per cent to 38 per cent.
Unilateral changes of the total cost of the consumer credit shall be permitted when the credit contract provides for the increase and the reduction of the total cost of the loan, the circumstances applicable to the changes in the total cost of the loan are described in the contract, and are objectively motivated and do not depend on the will of the creditor.
Likely buoyed by relatively strong auto sales, nonrevolving consumer credit has fallen only 0.
The Mitsubishi UFJ group is intent on buttressing the profitability of its consumer credit operations on the strength of the envisioned consolidation, the sources said.
Dominic Offord, insolvency expert at Browne Jacobson, said it represented the biggest overhaul of consumer credit legislation since 1974.
Despite its spectacular role in fueling twentieth century prosperity, consumer credit had an uphill battle in winning approval from many traditionally oriented social workers, economists, clergy, and newspaper editors, as well as old-line bankers and retailers.
A consumer loan is reported as delinquent when an account becomes 60 days past due, and consumer credit refers to credit card loans, personal and tax loans and other loans for hire purchase, but excluding mortgage loans.
one of the world's largest nonbank credit firms of the United States, purchased a Japanese consumer credit firm.
Calder starts with Susman's insight and analyzes how consumer credit became the budgeting restraint on American consumption, while at the same time making consumer goods more available than ever.
The rise of consumer credit is a fascinating story because one gets a chance to observe human desire equilibrate between difficult choices: spend/save, now/later, have/want, and especially luxury/necessity.
The downside with the Consumer Credit Counseling Service is that a note appears on the consumer's credit report saying that the individual is undergoing the service.

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