"Installment accounts" refer to a type of borrowing in which a person takes out a loan or buys something on credit and agrees to repay it in a series of equal monthly payments over a specific period of time. Full definition
Car loans, student loans, and home loans are examples of installment accounts. (mycreditscorereview.com)
There are many types of credit a consumer can have including revolving credit accounts such as with credit cards and installment accounts like small personal loans. (creditrepair.org)
When it comes to how to improve your spouse's credit, don't worry about paying installment accounts. (gocleancredit.com)