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One takes a loan in order to get the value of something now while paying for that value over time. Buying an item on credit is the same - you get the value of what you purchase now and pay for that item over time.

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14y ago

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What is meant by buying on credit?

An item that has been entrusted to someone who will pay for it later


What is buying by credit?

This is the process of buying goods without instant payment.


What all does having bad credit effect?

Having bad credit could disable an individual from buying a house or car. Bad credit is usually restrictive on larger purchases that require borrowing money to obtain the item.


Is buying something from eBay a risk?

Well, but there's a risk in everything. The item might not be as promised, your credit card info might go astray.


Why would you buy computers on credit?

One may buy a computer on credit, if they do not have enough money to spend up-front. Buying something on credit can spread the payment over a few months so a person may be able to afford an item.


In the 1920's many American consumers began to adopt the practice of buying goods on credit?

buying on credit was the "item" that lead to the great depression. * people started buying luxury items * people borrowed money to invest in stocks * thought they could repay the loan when they sold their stocl or profit * b/c of so much buying; people were making ALOT of money * stores sold LOTS of goods; that made value of stock rise * at some pojnt; people could no longer buy things b/c they had spent all their money into paying off their credit * inflamation started; that lead && started the great depression


Do you have to use a credit card on eBay?

Not necessary.If you are buying an item from ebay, some sellers accept other kinds of payments like bank transfer, cash on delivery etc.But if you're listing an item up on Ebay, then you'll probably need a credit card if you make use of the different features for the listings.


What outfits have special dance on club penguin?

Loads and loads of them. Here's a tip, when you're buying / taking an item, check if it says "Dance with this outfit to do a special dance".


Do I need the credit card to return an item?

In most cases, you will need the credit card used for the purchase to return an item.


What happens when you return an item purchased with a credit card?

When you return an item purchased with a credit card, the amount you paid for the item is typically refunded back to your credit card account. This process may take a few days to reflect on your credit card statement.


You are having trouble getting HSBC to remove an item on your credit reports that was paid in full years ago They say there is nothing they can do except report the item Paid in Full to the credit bur?

They are correct. Once the item is reflected in your credit report, all that HSBC can do is notify each Credit Bureau that the item has been paid in full.


Explain how the buying process for a product like soap would be different from the buying process for a luxury or durable item such as a car?

Explain how the buying process for a product like soap would be different from the buying process for a luxury or durable item such as a car.