what is CONSUMER CREDIT

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what is CONSUMER CREDIT

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Asked 10/27/2010 2:20:13 PM

Updated 12/23/2014 7:38:30 AM

2 Answers/Comments

This conversation has been flagged as incorrect.

Flagged by SCM [12/23/2014 7:38:30 AM]

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User: what is CONSUMER CREDIT

Weegy: One advantage of consumer credit is building up a sense of trust between the consumer and the creditor. This reflects well on the customer as aperson,showing they are able to successfully manage their finances. I hope this helps you. [ Thank you for contacting Weegy. ]
alasia|Points 5|

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Question

Asked 10/27/2010 2:20:13 PM

Updated 12/23/2014 7:38:30 AM

2 Answers/Comments

This conversation has been flagged as incorrect.

Flagged by SCM [12/23/2014 7:38:30 AM]

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5

Consumer credit refers to a debt that someone incurs for the purpose of purchasing a good or service.

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Added 12/23/2014 7:38:28 AM

This answer has been confirmed as correct and helpful.

Confirmed by jeifunk [12/23/2014 7:40:54 AM]

Comments

The general term for loans extended to individuals usually on an unsecured basis and providing for monthly repayment. Installment loans and personal loans are also referred to as consumer credit (unless the loan is used for business purposes or to purchase commercial property).

Added 10/27/2010 3:05:53 PM

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