Credit accounts refer to financial instruments that allow individuals or businesses to borrow money from a lender up to an agreed credit limit. The borrower is given a line of credit, which they can draw upon as needed, and pay back with interest over time. Common types of credit accounts include credit cards, lines of credit, and mortgages. These accounts are used by individuals and businesses to make large purchases or investments that may not be possible using only their own funds. Credit accounts allow for the flexibility to borrow money as needed, without having to apply for a new loan each time.