What is consumer credit

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Asked 11/13/2011 10:24:43 PM

Updated 12/27/2014 8:17:40 AM

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Flagged by SCM [12/27/2014 8:17:02 AM]

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User: What is consumer credit

Weegy: Free credit a credit or loan where no interest is paid by the borrower ExampleThe company gives its staff interest-free loans.Thank you.
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Question

Asked 11/13/2011 10:24:43 PM

Updated 12/27/2014 8:17:40 AM

1 Answer/Comment

This conversation has been flagged as incorrect.

Flagged by SCM [12/27/2014 8:17:02 AM]

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SCM

Consumer credit refers to a debt that someone incurs for the purpose of purchasing a good or service which includes purchases made on credit cards, lines of credit and some loans.

Added 12/27/2014 8:17:40 AM

This answer has been confirmed as correct and helpful.

Confirmed by Janet17 [12/27/2014 8:18:53 AM], Rated good by Janet17

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Questions asked by the same visitor

What is an advantage credit cards have over other forms of consumer credt?

Weegy: Credit cards are advantageous in that they are very quick and simple to use. There is no need to go and have things processed through a bank, per se. One downside is that many credit cards have very high interest rates. (More)

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Expert Answered

Updated 12/27/2014 8:22:56 AM

1 Answer/Comment

Janet17

A major advantage credit cards have over other forms of consumer credit is that, as long as you pay off the balance in full and on time each month, you don't incur any interest.

Added 12/27/2014 8:22:56 AM

This answer has been confirmed as correct and helpful.

What is a period rate?

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Question

Updated 7/5/2018 2:39:01 PM

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andronep

A period rate is a charge that is applied or recorded at regular intervals, such as a daily, weekly, or monthly, charges.

Added 7/5/2018 12:16:21 PM

This answer has been confirmed as correct and helpful.

Confirmed by Masamune [7/5/2018 2:39:00 PM], Rated good by Masamune

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