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Use of Consumer Credit Data for Statistical Purposes: Korean Experience Yong Min1Abstract For some time, the Bank of Korea has sought to obtain microdata that can help us to analyze our household
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Consumer credit is used by individuals to purchase goods and services without having to pay full amount upfront. It allows consumers to make purchases and pay off the balance over time.
Individuals who use consumer credit for purchases are required to report it, such as credit card holders or individuals with loans.
To fill out use of consumer credit, individuals need to report the amount of credit used, the purchases made, and the repayment terms.
The purpose of use of consumer credit is to track consumer spending habits and financial responsibility.
Information such as the amount of credit used, purchases made, repayment terms, and any outstanding balance must be reported on use of consumer credit.
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