With Approved Credit - WAC


DEFINITION of 'With Approved Credit - WAC'

A condition requiring a purchaser using financing to have adequate credit - as approved by his or her financial lending institution - for the transaction to go through.

BREAKING DOWN 'With Approved Credit - WAC'

The use of the condition of 'with approved credit' can be found in the financing of houses, cars and furniture. Companies who lease their products will also require their customers to fulfill the with-approved-credit condition.

  1. Credit Rating

    An assessment of the credit worthiness of a borrower in general ...
  2. Credit Bureau

    An agency that researches and collects individual credit information ...
  3. Line Of Credit - LOC

    An arrangement between a financial institution, usually a bank, ...
  4. Financing

    The act of providing funds for business activities, making purchases ...
  5. Credit

    1. A contractual agreement in which a borrower receives something ...
  6. Securities-Based Lending

    The practice of making loans using securities as collateral. ...
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