what is a credit transaction
Consumer Credit Transaction Law & Legal Definition. A consumer credit transaction is defined as a transaction between a natural person and another person in which property, services or money is acquired on credit by that natural person from such other person primarily for personal, family, or household purposes..Durham v. Cont'l Cent. Credit, 2009 U.S. Dist.onsumer Credit Transaction Law & Legal Definition. A consumer credit transaction is defined as a transaction between a natural person and another person in which property, services or money is acquired on credit by that natural person from such other person primarily for personal, family, or household purposes..