What is credit?
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One form of credit is where the borrower receives something of value for a promise to repay the debt at a future date, usally with interest. There are many examples of credit:
Consumer Credit
- Revolving
- credit cards
- other
- Non-Revolving
- auto loans
- student
- mortgages
Corporate Credit
- loans
- commercial paper
- bonds
Government Credit
- US treasury bills, notes and bonds
- State municipal bonds
Written on August 23, 2016