Question

what do you understand by credit​

Answer 1

Answer:

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Credit is the ability to borrow money or access goods or services with the understanding that you'll pay later.

To the extent that creditors consider you worthy of their trust, you are said to be creditworthy, or to have "good credit."

Using credit means you borrow money to buy something. You borrow money (with your credit card or loan). You buy the thing you want. You pay back that loan later – with interest.

Explanation:

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Answer 2

Explanation:

Credit is generally defined as a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date—generally with interest. ... Credit also refers to the creditworthiness or credit history of an individual or company.