Credit is the lending of money.  Money that a lender, such as a bank credit card, gives to a borrower on condition of repayment with a certain interest rate over a period of time.  The parties involved in a credit transaction are the creditor, which would be the credit card companies, and the debtor, which would be the credit card holder or the party receiving the funds with a promise to repay at a later time.  Credit is essentially any form of deferred payment, including deferred payment of debts.  Credit cards in where the borrower pays the credit card balance in full without incurring credit card interest charges would still involve the use of credit.

Tags: , , , , ,

No user commented in " Credit "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)