Legal contract entered into by a financial institution and a debtor when he/she accepts a loan. The contract spells out all the conditions of the loan including repayment terms, corresponding interest rates, and other relevant information for the debtor. A credit agreement only holds the parties listed on the contract responsible for the loan unless otherwise stated in the terms and conditions. Depending on the type of loan, the credit agreement may be very extensive. For instance, a mortgage loan credit agreement is far more detailed than one for a credit card.