A credit account is a financial arrangement that allows individuals or businesses to borrow money or access goods and services with the promise to pay later. This type of account is commonly associated with credit cards, where users can make purchases up to a certain limit and repay the borrowed amount over time, often with interest. Credit accounts can also include loans, such as personal loans or mortgages, where borrowers receive a lump sum and repay it in installments. Maintaining a good credit account history is important, as it affects one's credit score, which lenders use to assess creditworthiness for future borrowing.