consumer credit


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 rejection rate for auto loans nearly doubled in October, rising to 8.1% from 4.5% the same month a year ago, according to the Federal Reserve Bank of New York’s latest survey of consumer credit. Jessica Menton, USA TODAY, "Goldman Sachs invests in group making low-interest car loans," 6 Jan. 2020 Many consumers credit vaping and electronic cigarette products with helping them kick their cigarette habit. Carmen Heredia Rodriguez,, "As vaping devices evolve, new potential hazards scrutinized," 30 Oct. 2019 Tax liens used to show up on consumer credit reports, but the nation’s three credit bureaus started expunging them in 2017 as part of a settlement with federal regulators and state attorneys general to improve the accuracy of credit reporting. Kathleen Pender,, "IRS, California fee spat means some tax liens go unrecorded in state," 18 Oct. 2019 FinAccel, a Singaporean fintech offering consumer credit in Indonesia, raised $90 million in Series C funding. Lucinda Shen, Fortune, "The Amazon Scare," 4 Dec. 2019 That was one of the findings of a recent Dallas Fed report on Bexar County residents’ troubled relationship with consumer credit — troubled like Tokyo’s relationship with Godzilla is troubled. Greg Jefferson,, "San Antonio’s high rate of student-loan defaults has a bright side: More people are studying for degrees.," 14 Nov. 2019 The brouhaha involves a product launched in August that partnered the tech giant's Apple Pay program and a recent move by Goldman to make inroads into the retail consumer credit market. Kate Gibson, CBS News, "Is Apple Card sexist? Goldman Sachs offers to review gender-bias claims," 12 Nov. 2019 WalletHub’s Gonzalez estimated that net consumer credit card debt will increase by $70 billion this year. NBC News, "Americans are piling on credit card debt, despite recession warnings," 10 Sep. 2019 And how consumer credit reporting agencies were trying to get everyone to lock or freeze their credit reports to stop the problem from snowballing? Nathan Bomey, USA TODAY, "Equifax to pay up to $700 million in FTC settlement over security breach," 22 July 2019

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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Time Traveler for consumer credit

Time Traveler

The first known use of consumer credit was in 1925

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Statistics for consumer credit

Last Updated

20 Jan 2020

Cite this Entry

“Consumer credit.” Dictionary, Merriam-Webster, Accessed 17 Feb. 2020.

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More Definitions for consumer credit

consumer credit


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

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