What Is Consumer Credit?

Consumer credit refers to the transaction relationship between consumers for goods or services conditioned on their commitment to future payments. In fact, consumer credit has a long history as a trading tool in the market economy. After World War II, science and technology advanced by leaps and bounds and productivity increased dramatically. In order to sell goods, merchants devised many innovative sales methods, such as installment payment, credit card, credit card, etc. The emergence of consumer credit has expanded the size of the market and allowed consumers to enjoy what they want in advance.

Consumer credit

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The so-called consumer credit control refers to the purchase of durable consumer goods by the central bank

In different forms of personal credit sales, the risk factors are also different. According to different forms of credit transactions, repayment methods, and different entities issuing credit, consumer credit can be divided into retail credit, cash credit and real estate credit. Among them, retail credit can be further divided into revolving credit, installment credit and service credit.