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[[Image:Credit score chart.png|thumb|Credit score chart.]]

[[Image:Credit score chart.png|thumb|Credit score chart.]]

'''Credit''' is a term that refers to the "Belief or confidence in the [[truth]] of something." <ref> [http://www.thefreedictionary.com/credit TheFreeDictionary] Farlex, Inc. </ref>  

'''Credit''' is a term that refers to the "Belief or confidence in the [[truth]] of something." <ref>[http://www.thefreedictionary.com/credit TheFreeDictionary] Farlex, Inc.</ref>  

'''Credit''' is used in relation to the approval for delayed payments for purchased goods, services, or money (loans). Borrower normally issues a receipt to the lender promising to pay back. A credit frequently involves an [[interest]] and other costs like arrangement fees. [[Trustworthy]] is related to the ability to pay. Creditworthy is based on a person's credit history, or credit rating.  

'''Credit''' is used in relation to the approval for delayed payments for purchased goods, services, or money (loans). Borrower normally issues a receipt to the lender promising to pay back. A credit frequently involves an [[interest]] and other costs like arrangement fees. [[Trustworthy]] is related to the ability to pay. Creditworthy is based on a person's credit history, or credit rating.  

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A Credit Union is a nonprofit, cooperative financial institution owned and run by its members. Members pool their funds to make loans to one another. The volunteer board that runs each credit union is elected by the members. Most credit unions are organized to serve people in a particular community, group or groups of employees, or members of an organization or association. <ref> [http://www.accion.org/Page.aspx?pid=257 Glossary of Microfinance Related Terms] </ref>

A Credit Union is a nonprofit, cooperative financial institution owned and run by its members. Members pool their funds to make loans to one another. The volunteer board that runs each credit union is elected by the members. Most credit unions are organized to serve people in a particular community, group or groups of employees, or members of an organization or association.<ref>[http://www.accion.org/Page.aspx?pid=257 Glossary of Microfinance Related Terms]</ref>

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The term could also be used as: ''Recognition or approval for an act, ability, or quality.'' [[Ibidem]]

The term could also be used as: ''Recognition or approval for an act, ability, or quality.'' [[Ibidem]]

== See Also ==

== See also ==

* [[National debt]] and [[Budget deficit]]

* [[National debt]] and [[Budget deficit]]

* [[Bankruptcy]]

* [[Bankruptcy]]

* [[Wall Street]]

* [[Wall Street]]

{{Template:Economic preparedness topics}}

{{Economic preparedness topics}}

[[Category:Economics]]

[[Category:Economics]]

== External Links ==

== External links ==

*[http://www.experian.com/consumer/glossary.html Glossary of credit terms]

*[http://www.experian.com/consumer/glossary.html Glossary of credit terms]

*[http://www.ez-submit.net/Article/How-to-Establish-a-Good-Credit-History/42320 How to Establish a Good Credit History]

*[http://www.ez-submit.net/Article/How-to-Establish-a-Good-Credit-History/42320 How to Establish a Good Credit History]