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Consumer Credit

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.03 sec.
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.


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