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Credit Essentials

BTC 25.1

An agreement to obtain money, goods, or services now in exchange for a promise to pay in the future. Credit
Lends money or provides credit. Creditor
Borrows money or uses credit. Debtor
A fee charged by creditors for using their money. Interest
The type of credit used by people for personal reasons. Consumer Credit
Credit used by businesses. Commercial Credit
A measure of a persons ability and willingness to pay debts on time. Credit Rating
Of, relating to, or characteristic of soldiers or armed forces. Military
Give something in order to help achieve or provide something. Contributes
Without variation or change, in every case. Constantly
Bound or obligated, as under a pledge to a particular cause, action, or attitude. Committed
A point at where you cannot charge any more payments. Credit Limit
Created by: zachary_franz