Credits or Money?

1. Is credits the same as money?
2. Is it better to have money or credit?
3. Why are credits not considered money?
4. Does credit mean you get money?

Is credits the same as money?

The key difference between cash and credit is that one is your money (cash) and one is the bank's (or someone else's) money (credit).

Is it better to have money or credit?

Paying with cash vs. credit helps you keep your debt in check. It can be easy to get into debt, and not so easy to get out of it. In addition to paying more in total for purchases over time, you're also accumulating more debt if you don't pay your bills off from month to month.

Why are credits not considered money?

Credit cards are considered short loans, not Money though a person can use them to make purchases. It offers an obligation to pay bills and make purchases. Money refers to a medium of exchange or currency such as banknotes or coins.

Does credit mean you get money?

Credit definition

Credit can mean either borrowing money or getting something of value, like a car, with the commitment to repay later and often with interest charged. It can also mean your ability to borrow or buy things on a credit contract.