Question

What is the meaning and importance of credit?

Answer 1

The Importance of Credit. ... Whilecredit cards can play a role in establishing your financial record,credit by itself is better defined as a bank's trust in you to repay a loan. Having a line of credit means a bank believes you will give back the money you are borrowing to make a purchase.

Answer 2

The Importance of Credit.------

                                                  While credit cards can play a role in establishing your financial record,credit by itself is better defined as a bank's trust in you to repay a loan. Having a line of credit means a bank believes you will give back the money you are borrowing to make a purchase.