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What is Credit Debt?

Credit debt or credit card debt is a type of consumer debt that is incurred through a short-term revolving loan facility.

The most common of course is a credit card company issuing a card to a client to make purchases, with the client being responsible for minimum payments plus whatever interest rate applicable. Removing credit card debt from one’s balance sheet is often an effective way of improving your financial life.

Keywords: interest rates, debt, credit, credit debt,