Glossary

Bank card accounts:
Credit card accounts available at banks and repayable in installments.

Banks:
Include commercial banks as well as savings institutions.

Closed-end consumer accounts:
Consumer credit accounts repayable in installments in a fixed amount of time.

Consumer debt:
Debt owed by consumers on credit that is not secured by residential real estate; includes revolving and nonrevolving consumer debt.

Consumer installment debt:
Revolving debt and closed-end consumer debt repayable in installments.

Finance companies:
Include personal and other finance companies, credit unions, automobile, home furnishing, and mail-order businesses.

Mortgage debt:
Debt on credit secured by residential real estate.

Non-installment consumer debt:
Includes charge cards and open credit.

Nonrevolving consumer debt:
Debt on closed-end consumer credit repayable in installments and open credit.

Open Credit:
Credit repayable in 30, 60, or 90 days.

Retailers:
Include clothing, department and variety, jewelry, camera, computer, and sporting-goods stores.

Revolving consumer debt:
Debt on credit card, check credit, and other open-end consumer credit repayable in installments.