Credit Account (Noun)
Meaning
Credit extended by a business to a customer.
Classification
Nouns denoting possession and transfer of possession.
Examples
- To establish a credit account with the company, customers must submit a credit application and undergo a review process.
- The business maintains a database of all credit accounts to track customer purchases and payments.
- Because she had a long history of on-time payments, the store granted her a higher credit limit on her account.
- New customers typically have their credit accounts set up by the company's sales team during the initial purchase process.
- The company offered its established customers the option of converting their credit accounts to installment plans with fixed interest rates.