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Basically they mean the same thing. You can give someone a loan, or allow them credit which means to let them borrow money from you.
However there is a slightly different use of the term 'credit' in accounting: there it means to increase in value (to reduce in valid is 'debit').
Even more confusing is the term 'creditor' which means 'someone to whom you owe money' (a 'debtor' is 'someone who owes you money).
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What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com
What is the difference between car loan and personal unsecured loan?
A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com
What is the difference between credit officer and loan officer?
credit officer assesses the capacity to pay of the client. loan officer extends loans to the assessed cleint
What is the difference between car loan and personal unsecured loan?
A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
What is the difference between home equity line loans and line of credit loans?
A home equity loan is a one time mortgage made against the equity of your property. On the other hand, a line of credit loan is not really a loan but is a line of credit you can access anytime within a set time period.
What is the difference between a cash advance and payday loans?
The difference: A payday loan does not require any type of credit card check. There is a fee one must pay to get a payday loan. A cash advance requires a credit card and have a small fee one must pay.
What is the difference between a loan and an overdraft?
an overdraft is over drawing on a current account in excess of the credit balance whilst a loan is the act of lending or borrowing, for temporary use with permission
What is difference between rural credit and micro credit?
What is the difference between micro credt and rural credit?
What Is The Difference Between An Unsecured Loan And Line Of Credit?
An unsecured loan has a set repayment term. An unsecured line of credit can be paid off at your pace and can be used over and over.
What is the difference between installment credit and open ended credit?
the difference between installment credit and open ended credit is they are the same..
