consumer credit

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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 ?
Last year, compared to the year before last year, lending via peer-to-peer lending platforms more than doubled: the amount of extended consumer credits stood at EUR 17.
By end June, banks approved more than 400 million euros in consumer credits, which is by some 50 million euros more compared to the start of the year.
The Bank of Lithuania, which supervises the consumer credit market, paid particular attention to the assessment of the creditworthiness of borrowers so as to prevent lending to unemployed persons, schoolchildren and other consumers, whose consumer repayment possibilities, given their existing financial liabilities and income received, are to be viewed as doubtful.
These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2004, and quarterly report on Form 10-Q for the period ended March 31, 2005.
In submitting a request, it will always be possible to specify for how long consumer credits are not to be granted.

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