Why do people need credit?
Answers
Personal finance experts spend a lot of energy trying to prevent us from using credit cards – and with good reason. ... But contrary to popular belief, if you can use the plastic responsibly, you're actually much better off paying with a credit card than with a debit card and keeping cash transactions to a minimum.
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Credit is used as another system of payment which allows for the buying of goods/services. Credit is like a loan that must be payed back. Credit can be supplied through a job, the government, etc. Credit helps people register for loans and to build up a credit score. For example, the amount of credit you pay back helps build your credit score the higher your credit store the more likely a bank will consider/qualify you for loans. This is why one's credit score is so important to home buying.