Consumer Credit is basically the amount of credit granted to a consumer to purchase goods or services that are consumed not to invest. It consists of short-term loans made to people so that they can purchase consumer goods and services for personal or household uses
Consumer credit includes all forms of installment credit such as credit cards, store cards, motor (auto) finance, personal loans (installment loans), consumer lines of credit, retail loans (retail installment loans) and mortgages other than loans secured by real estate (home mortgages, for instance) plus open-end credit.
New forms of credit, however, have blurred these distinctions; a home equity credit line is a revolving line of credit secured by real estate-a lien on the borrower's home.
