credit transaction
Buy now, later
A credit transaction is a purchase where payment is deferred rather than immediate.
The buyer receives goods or services now and pays later—whether by credit card, store account, or installment plan.
The term distinguishes from cash transactions, where payment and delivery occur together: The store processes both cash and credit transactions.
- balance transferMoving debt to another account
- annual feeRecurring yearly charge
- grace periodAllowed delay before consequences
- loanBorrowed money repaid later
- interest rateCost of borrowing money
contract · fraud prevention · installment plan · finance charge · business loans · liquidity · collateral · promissory note · bankruptcy law · leverage · personal loans · authorization · payment processing · minimum payment · usury laws · student loans · consumer protection · debt-to-income ratio
- ACH paymentsdirect deposit, originator, clearinghouse, routing number, account number
credit transactioncash payment
Transaction using physical currency
upfront payment · prepayment · cash on delivery · pay-as-you-go · advance payment
credit, transaction, credits, credited, crediting, creditor, creditors, creditable, accredit