Credit lets people buy things now and pay for them later. using credit is like getting a small loan from the bank. The loan must be paid back in a certain amount of time and interest is added to the loan. Credit cards are a common type of credit.
Answer:
Credit is a commitment to pay for something in the future, instead of buying it right away. When you use credit, you are able to delay the payment for items that you buy.
Explanation:
Usually, you will be expected to make monthly payments of a minimum amount, to show that you will eventually pay the money you owe.
