Credit



Credit is the granting of a loan by one party to another party where that second party does not have to pay the first party immediately, and then creating a debt. Credit was very popular in the American society during the 1920s which soon lead to the depression. Common forms of consumer credit include credit cards, store cards, motor finance, personal loans, retail loans, and mortgages.

Information provided by: http://en.wikipedia.org/wiki/Credit_(finance)

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