credit terms

Definition

The length of time a consumer has to repay the amount of debt owed on an obligation. This can also include interest payments.

Use credit terms in a sentence

You should always make sure that you will be able to get enough cash to pay off the debt by the credit terms.

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When taking out a loan, be sure to look into the credit terms which will define the amount of time you will have to pay back the loan.

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The financing options were limited and the credit terms were stiff, but Margaret was desperate for a new car and, without a strong credit history, didn't have much of a choice.

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