What Is Credit and Why Do You Need It? – Amanda Barroso

Credit is the ability to borrow money with the knowledge — and promise — that you’ll have to repay it in the future, often with interest. You might need credit to purchase a product or use a service that you can’t pay for immediately. While credit comes in many forms, the most common are credit…

Amanda Barroso writes for NerdWallet. Email: abarroso@nerdwallet.com.

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