Consumer credit refers to loans or lines of credit that are extended to individuals for personal use. This can include credit cards, auto loans, mortgages, and other types of borrowing. Consumer credit is typically granted based on an individual's creditworthiness, which takes into account factors such as their income, employment status, and past payment history. The terms of consumer credit vary depending on the type of loan or line of credit, but generally speaking, they involve interest rates, repayment schedules, and other conditions that govern the borrower's obligations to the lender.