consumer credit

noun

Definition of consumer credit 

: credit granted to an individual especially to finance the purchase of consumer goods or to defray personal expenses

Examples of consumer credit in a Sentence

Recent Examples on the Web

The result is that a growing amount of adverse credit information is falling off of consumers’ credit reports, resulting in higher consumer credit scores. Josh Zumbrun, WSJ, "Overhaul Boosts Credit Scores of Millions of U.S. Consumers," 15 Aug. 2018 Last week, the Federal Reserve reported that consumer credit outstanding rose by $24.6 billion in May from a month earlier, nearly double the $12.8 billion economists expected to see. Justin Lahart And Aaron Back, WSJ, "The Dark Side to Rising Consumer Spending," 16 July 2018 Last year, Prime Day resulted in an 85 percent uptick in daily signups in the U.S. for Amazon Prime compared to an average day, according to an estimate from Second Measure, a startup that tracks and analyzes consumer credit card payments. Jason Del Rey, Recode, "Prime Day is more than a gimmick, it’s the single biggest event to expand Amazon’s defensive moat," 16 July 2018 Economists expect the Federal Reserve to report that after increasing $19.2 billion and $13.9 billion the prior two months, outstanding consumer credit grew another $15 billion in January. Paul Davidson, USA TODAY, "Employment trend? March jobs report highlights the week's economic news," 2 Apr. 2018 Economists expect the Federal Reserve to announce Thursday that outstanding consumer credit gains picked up moderately to $14 billion in April from $11.6 billion the prior month. Paul Davidson, USA TODAY, "Did job openings stay near record level? Workers can only hope," 4 June 2018 The legislation, however, also made some changes to the federal law dictating consumer credit rules. Ann Carrns, New York Times, "New Law Will Let Consumers ‘Freeze’ Credit Files Without Charge," 1 June 2018 The Lower House approved a bill creating a consumer credit-rating system, which is expected to reduce borrowing costs. Paulo Trevisani, WSJ, "Brazil’s New Finance Minister Hopeful Legislation Can Pass Before Elections," 11 May 2018 Also on tap are reports on service-sector activity and consumer credit. Paul Davidson, USA TODAY, "Did job openings stay near record level? Workers can only hope," 4 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'consumer credit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of consumer credit

1925, in the meaning defined above

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Last Updated

8 Dec 2018

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The first known use of consumer credit was in 1925

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More Definitions for consumer credit

consumer credit

noun

Legal Definition of consumer credit 

: credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) — compare consumer debt at debt

More from Merriam-Webster on consumer credit

Britannica.com: Encyclopedia article about consumer credit

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