installment credit (Meaning)
Wordnet
installment credit (n)
a loan repaid with interest in equal periodic payments
Synonyms & Antonyms of installment credit
No Synonyms and anytonyms found
installment credit Sentence Examples
- Installment credit allows consumers to purchase goods or services over a specified period with regular payments.
- Credit cards, auto loans, and mortgages are common forms of installment credit.
- Installment credit accounts for a significant portion of consumer debt.
- The interest rate on installment credit can vary widely depending on the lender and creditworthiness of the borrower.
- Defaulting on an installment credit payment can damage a consumer's credit score.
- Installment credit can provide consumers with flexibility and convenience, but it's important to use it responsibly.
- Lenders typically require borrowers to provide collateral when applying for installment credit.
- Some installment credit agreements include prepayment penalties, which can be costly if the borrower pays off the loan early.
- Installment credit can help consumers establish a positive credit history, especially when payments are made on time.
- The total cost of installment credit should be carefully considered before entering into an agreement.
FAQs About the word installment credit
a loan repaid with interest in equal periodic payments
No synonyms found.
No antonyms found.
Installment credit allows consumers to purchase goods or services over a specified period with regular payments.
Credit cards, auto loans, and mortgages are common forms of installment credit.
Installment credit accounts for a significant portion of consumer debt.
The interest rate on installment credit can vary widely depending on the lender and creditworthiness of the borrower.
