Difference between revisions of "Credit"
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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> |
</blockquote> | </blockquote> | ||
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 | + | == See also == |
* [[National debt]] and [[Budget deficit]] | * [[National debt]] and [[Budget deficit]] | ||
* [[Bankruptcy]] | * [[Bankruptcy]] | ||
* [[Market economy]] | * [[Market economy]] | ||
* [[Credit card]] | * [[Credit card]] | ||
| − | * [[Housing | + | * [[Housing bubble]] |
* [[Wall Street]] | * [[Wall Street]] | ||
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| − | + | ==References== | |
| − | + | {{reflist}} | |
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| − | == External | + | == 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] | ||
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[[Category:Economics]] | [[Category:Economics]] | ||
[[Category:Finance]] | [[Category:Finance]] | ||
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| − | + | {{Economic preparedness topics}} | |
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Latest revision as of 19:43, January 6, 2020
Credit is a term that refers to the "Belief or confidence in the truth of something." [1]
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.
A Credit Bureau is an agency that collects information on the credit record of consumers so that creditors could make decisions about granting of loans. Companies that offer credit to their customers are part of the Financial market. Risks involving credit concern regulators of this markets.
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.[2]
The term could also be used as: Recognition or approval for an act, ability, or quality. Ibidem
See also
References
- â TheFreeDictionary Farlex, Inc.
- â Glossary of Microfinance Related Terms
External links