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15 October, 09:51

What relation does credit and debt have?

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  1. 15 October, 13:33
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    Credit represents money that is available to be borrowed. Meaning, you can buy things with the use of credit card with borrowed money. Your card company will pay for your purchases but when your card statement arrives, it will pay for the borrowed money. Debt, on the other hand, represents money that was borrowed and that has not yet been paid back. Credit is the ability to create debt.
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