Same-as-Cash Credit

Same-as-cash, or noninstallment, credit is the simplest form of credit. Same as cash credit is usually due after a very short term, such as a 30-day period. Same-as-cash credit enables consumers to take possession of property today and pay for it within a set amount of time. Many department stores offer non-installment credit; however, many same-as-cash plans can convert to high interest credit if the customer does not pay in full on the due date.

Inside Same-as-Cash Credit