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. Trade Credit

    A trade credit is an agreement in which a customer can purchase ...
  2. Negative Authorization

    A credit card approval system that compares a credit card number ...
  3. Credit Analyst

    A financial professional who has expertise in evaluating the ...
  4. Credit Agreement

    A credit agreement is a legally binding contract documenting ...
  5. Credit Limit

    Credit limit is the amount of credit that a financial institution ...
  6. Credit Control

    Credit control includes the strategies a business uses to encourage ...
Related Articles
  1. Small Business

    How To Increase Your Appeal To Prospective Lenders

    Making a business eligible for loans/credit cards at the best possible rates requires crafting an excellent credit profile through the smart use of credit.
  2. Investing

    Revolving Credit vs. Line of Credit

    Revolving credit and a line of credit are arrangements made between a lending institution and a business or individual.
  3. Personal Finance

    6 Steps to Getting a Car Loan With Bad Credit

    Having bad credit does not mean you can't get a car loan. Follow these steps to improve your chances of getting a loan with terms you can live with.
  4. Personal Finance

    How To Establish A Credit History

    Can't get a credit card without a credit history, and can't get a history without a card? Break the Catch-22.
  5. Personal Finance

    The Importance Of Your Credit Rating

    A great starting point for learning what a credit score is, how it is calculated and why it is so important.
  6. Personal Finance

    The Best Way to Borrow

    There are many ways to secure funding. Find out the pros and cons of each way to borrow.
  7. Personal Finance

    5 Tax Credits You Shouldn't Miss

    If you're not taking advantage of these deductions, you could be missing out on tax savings.
  8. Personal Finance

    Credit risk analyst: Career path and qualifications

    Learn about what kind of work credit risk analysts do on a day-to-day basis, and determine whether this career is one you'd like to pursue.
  9. Personal Finance

    Why You Should Improve Your Credit and How to Do It

    With credit playing a big role in many financial decisions, it is important to maintain good credit.
  1. What is the difference between a loan and a line of credit?

    Learn to differentiate between lines of credit and standard loans, and determine when you are likely to use each method of ... Read Answer >>
  2. Is it possible to have a credit limit that's too high?

    Avoid these pitfalls when working with high credit limits, and learn how to increase your credit score by increasing your ... Read Answer >>
  3. How will accepting a higher credit card limit affect my credit score?

    Find out if accepting a higher limit on a credit card impacts credit score and how that impact affects one's overall credit ... Read Answer >>
Trading Center