consumer credit

(redirected from Consumer Credits)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
In 2017, Lithuanias consumer credit market posted a significant decline in the number of those who were late to repay their loans, as well as in the number of those who took out the riskiest credits.
Credits below EUR 290 remain the most expensive and at the same time the riskiest type of consumer credit. Last year, compared to 2016, they dropped by a fifth though.
Amendments to the Law on Consumer Credits, which must ensure more responsible lending and borrowing, came into force on 01 February 2016.
In 2015, consumer credits were granted by 37 enterprises (non-credit institutions) out of 66 that are included in the public list of consumer credit providers.
In the past 10 years, the credit portfolio of foreign banks shifted more to consumer credits, They began to provide corporate credits again only in the past two years offering larger investment and working capital credits compared with in the previous two years,
Foreign banks extend consumer credits more trough credit and non collateral credits, Around Rp12,4 trillion of the total Rp21,28 trillion consumer credit of foreign banks are extended through credit cards, HSBC, Citibank, ANZ Bank and Standard Charter Bank are among foreign banks extended consumers credit more through credit cards,
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.
Let us also remind you that all those willing to secure themselves against incautious borrowing, may use the possibility to be entered on the Bank of Lithuania-administered list, of persons who are not allowed to be granted consumer credit. At the end of 2016, 296 residents used this service, the oldest of whom was aged 89, the youngest 18.
In submitting a request, it will always be possible to specify for how long consumer credits are not to be granted.

Full browser ?