n. a system for allowing people to purchase things on credit
Usage examples of "credit system".
Undoubtedly, imposing a community reinvestment obligation on British banks could revolutionize the credit system.
Any institution of the Farm Credit system under the Farm Credit Act of 1971.
The credit system expanded and then collapsed, leaving people to depend on barter.
Although I found it odd that these highly civilized and ancient countries are so primitive in regard to money, I was much impressed by their credit system.
The great extension of the credit system was a characteristic of the latter part of the nineteenth century, and accounts largely for the almost incessant business crises which marked that period.
This credit system was a highly complex, highly abstract, and thoroughly satisfactory way of balancing accounts and trade balances between worlds.