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

According to the consumer credit reporting firm, the average student loan debt in Alabama is $35,674. William Thornton | Wthornton@al.com, al.com, "Alabama among nation’s leaders in rising student loan debt," 5 June 2019 The consumer credit rules in the new law take effect 120 days after the law was enacted, so most likely sometime in September. Ann Carrns, New York Times, "New Law Will Let Consumers ‘Freeze’ Credit Files Without Charge," 1 June 2018 Lawmakers on Tuesday launched a new attack on consumer credit-reporting companies, a year and a half after the data breach at Equifax Inc. exposed personal financial details of millions of Americans. Yuka Hayashi, WSJ, "Credit-Reporting Companies Told Their System Is ‘Broken’," 26 Feb. 2019 Related Experian will add the new data to its consumer credit reports, and it will be taken into account in certain FICO score calculations. Annamaria Andriotis, WSJ, "Want a Better Credit Score? Soon, Your Cellphone Bill Could Help," 18 Dec. 2018 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

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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Statistics for consumer credit

Last Updated

23 Jun 2019

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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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