Consumer credit refers to the use of credit for personal needs (except a home mortgage) by individuals.

Name: Consumer credit refers to the use of credit for personal needs (except a home mortgage) by individuals.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consumer credit is defined as credit used by individuals for personal needs such as purchasing a car, paying for education, or making household purchases. It does not include credit used for a home mortgage.

Consumer Credit Refers to the Use of Credit for Personal