credit account
Học thuậtThân thiện
Definition
- Noun:
- A commercial arrangement allowing deferred payment: A "credit account" is a formal agreement between a business and a customer where the customer can purchase goods or services immediately but pay for them at a later date, typically on a monthly billing cycle.
- A record of such an arrangement: It also refers to the specific record or ledger entry maintained by the business to track the customer's purchases, payments, and outstanding balance under this agreement.
Usage Examples
- Noun:
- The store offered her a credit account, so she could buy the furniture now and pay over six months.
- Please check your credit account statement for any discrepancies.
- He settled his credit account in full before the due date.
Advanced Usage
- "To have an account on credit": This is a more descriptive phrase meaning to possess a credit account with a seller.
- We have an account on credit with our main supplier, which simplifies our procurement process.
Variants and Related Words
- Charge account (n): A very similar type of account, often used interchangeably with "credit account," particularly in retail contexts.
- Revolving credit account (n): A specific type of credit account where the customer has a credit limit and can carry a balance from month to month, paying interest on the outstanding amount.
- Account (n): The broader term for a formal business relationship involving the recording of financial transactions.
Synonyms
- Charge account: An account allowing purchases on credit.
- Open account: A credit arrangement where payment is deferred.
Related Phrases
- "On account": As a partial payment or using a credit account.
- I put $50 down on account and will pay the rest next month.
- "To open a credit account": To establish a new credit arrangement with a business.
- You can apply to open a credit account online.
Noun
- credit extended by a business to a customer