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It means that you are receiving the good, in exchange for money that will be paid later.
Advantages
- No need to carry large amounts of money around
- You can improve your credit score if you pay what you owe on time
Disadvantages
- You lose the incentive to save, as you do not 'feel' yourself using the money
Wiki User
∙ 12y ago
Wiki User
∙ 14y agoTo get things they do not have the cash to pay for. For example, I have an automobile
that is paid for , but it will not run, so I could buy an automobile on credit that would run.
But then, I would be in dept.
Wiki User
∙ 10y agoThere are a few ways to buy on credit. One way is by using a credit card. Another option is layaway, which is available at Wal-Mart and K-Mart. Fingerhut offers purchase on credit without a credit card; the company extends the credit to the consumer. Another credit option is taking out a loan to pay for things.
Wiki User
∙ 11y agoit means some one is willing to lend money and give you time to pay it back usually for every fee or interest.
Wiki User
∙ 11y agoWhen the goods are purchased from supplier on a date and the amount of the bill is to be payed on some future date, then the transaction is Credit Purchase.
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What does it mean to credit a source?
give credit to something
What do you use to buy something and pay for it later?
credit
Where can one buy credit from?
You don't typically buy credit. Credit is something that is given to you when you apply for a loan or credit card. Your credit score depends on how much credit you have and whether you make your payments on time.
What does 1 credit mean on itunes?
1 credit means you can buy a song with that credit
Money owed when you buy something on credit or borrow is?
A loan.
How do you order something offline if you don't have credit?
You get someone else to buy it for you who does.
What do you mean by by-product credit?
something derived from a product
Which is one way that credit cards differ from debit cards?
With a credit card, you pay later for something you buy.
Can you get cash with a credit card?
yep. When you buy something just get Cash back.
Which of these allows you to buy something without waiting until you have the money?
A credit card
What does on occasion taken credit for work done by others mean?
Taking credit for something you didn't do.
What is the ability to buy something now and pay for it later?
The ability of buy something and pay for it later is credit. Just like you use a credit card, you would put the cost on the card and you would have to pay for the cost later, which is debt.
