| credit extended by a retail store, bank, finance company, or other lender, chiefly for the purchase of consumer goods. |
| consumer credit n. Credit granted to a consumer permitting the use or ownership of goods or services during a term of payment. |
Consumer Credit
A debt that someone incurs for the purpose of purchasing a good or service.
Investopedia Commentary
A mortgage for purchasing a house is technically not consumer credit. However, the 52 inch television you put on your credit card is a great example.
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