Retail Credit

Retail credit refers to the lending provided by financial institutions to individual consumers for purchases such as appliances, electronics, or personal expenses. It typically includes credit cards, personal loans, and store financing. The lender assesses the borrower’s ability to repay based on credit history, income, and existing debts. Retail credit enables consumers to buy goods or services immediately and pay over time, while lenders manage the risk through interest charges and repayment terms. It plays a crucial role in facilitating consumer spending and supporting economic activity.