1. A contractual agreement in which a borrower receives something of value now, with the agreement to repay the lender at some date in the future. Also, the borrowing capacity of an individual or company.
Fishie
2006-03-20 09:58:37 UTC
In lay man's terms
Credit: No Cash today, but pay through your nose later!!!
Most credits have an element of appreciation (as interest) thus you pay more than you owe...
.:Fishie:.
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