"Installment credit" refers to a type of loan or credit where you borrow a specific amount of money and pay it back in equal monthly installments over a certain period of time.
Full definition
Synonyms for individual words can be found below.
«installment»
«credit»
Sentences with «installment credit»
- An auto loan is an example of installment credit. (oldnational.com)
- NOTE: Other rating indicators that might be found on a report are «I» for installment credit or «O» for open credit line. (yourequity.ca)
- An example would be paying off a car loan when it is the only installment credit on your credit profile. (northshoreadvisory.com)
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sentences)