Credit Expense Account is an accounting term used to describe a type of account used to track and monitor what a company spends on its various credit accounts. Credit expenses include payments for things such as loans, interest, principal repayment, insurance premiums, and credit card charges. Companies must track credit expenses in order to keep financial records up-to-date and accurately reflect the current financial state of the business. By monitoring this data, businesses can budget better for the future and make smarter decisions about their expenditures and investments.