Question

define credit? what does it include?​

Answer 1

Credit refers to a loan, an agreement in which the lender supplies the borrower with money, goods or services which is to be returned in future.

Terms of credit apart from the rate of interest, collateral also includes documentation, mode of repayment.

hope it is helpful to you.

Answer 2

Consumer debt can be defined as "money, goods or services provided to an individual in the absence of immediate payment". ... The cost of credit is the additional amount, over and above the amount borrowed, that the borrower has to pay. It includesinterest, arrangement fees and any other charges.