Question

what is mean by credit transaction



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Answer 1

Answer:

Credit transaction means any transaction by the terms of which the repayment of money loaned or loan commitment made, or payment for goods, services, or properties sold or leased, is to be made at a future date or dates.

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Answer 2

Credit Transactions. 'Buying on credit' means receiving goods or services straight away and paying for them later. ... A credit transaction doesn't require the use of a credit card. This is a how the credit card holder can turn a cash purchase into a credit purchase.