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What is Installment credit? (In your own words, please and thank you!!! :)
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2 votes
What is Installment credit?
(In your own words, please and thank you!!! :)

User Sharjeel Ali
by
3.8k points

2 Answers

9 votes

Answer:

Step-by-step explanation:

Installment credit is an important aspect of your credit score because it shows that you can maintain a payment over time. Examples of installment loans are car loans, mortgages, and student loans

It is also called Installment plan it means when you do work and you get credit.

HAVE A GREAT DAY!

User Niraj Kaushal
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4.1k points
10 votes
Installment credit is when you borrow a fixed sum of money and agree to make monthly.
User MarcXandre
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4.4k points
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