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"Credit" vs. "debt": two sides of the financial coin
Anwar Kareem 09/10/2024, 22:46
What is similar?
Both "credit" and "debt" pertain to financial transactions and obligations involving the exchange or borrowing of money. They are related to the concept of lending and borrowing in finance and economics.
What is different?
"Credit" refers to the trust allowing one party to provide resources to another party where repayment is expected in the future, often with interest. "Debt" refers to the amount of money borrowed by one party from another, which must be paid back.
Which one is more common?
Examples of usage
Credit- She has a good credit score due to her timely payments.
- The store offers credit to its regular customers.
- I was approved for a credit card with a high limit.
- He is trying to pay off his student debt.
- The company has accumulated a large amount of debt over the years.
- They went into debt to finance their new house.
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