Credit..

Credit (Finance) is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date.

Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies, credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account.

For addition.. Let's we're talking about the Advantages and Disadvantages of this topic!

 

 

Advantages:

• Able to buy needed items now
• Don't have to carry cash
• Creates a record of purchases
• More convenient than writing checks
• Consolidates bills into one payment

Disadvantages:

• Interest (higher cost of items)
• May require additional fees
• Financial difficulties may arise if one loses track of how much has been spent each month
• Increased impulse buying may occur 

Okay.. That's all! 

And... The last but not least... THANK YOU!