A Credit is a sum of money that is given to a person in a form of loan, the entity that gives or offers it, is in full power to do so. Banks, usually are the entities that grant credits, these in order for the person to make a certain investment, committing with the institution to cancel it in a stipulated time and under the rules and conditions that it imposes, in general, they consist in a fixed financing rate which is established more like a commission. For the bank, credit is more of a product, since in addition to offering it to the public, it generates dividends that in turn stimulate the growth and development of the bank as a company and simultaneously collaborate with the evolution of society.
Credit cards, on the other hand, are also products of the banking entities, which act as continuous credits to the person, that is, with a credit card Ana can buy the portfolio that she likes so much, even if she does not have money in her accounts, the credit card offers her a limit of available money that she can later pay. This type of instrument offers the customer more comfort and preferential economic freedom. The difference between credit and loanIt basically consists in that the loan is a fixed amount, paid in established installments and with interest according to the contract, the credit is an account with a term to pay, it meets the same conditions as a loan since in the end the credit is a loan, but this may vary according to the payment condition or availability of the account that the creditor makes available to you.
In another order of ideas, the word Credit is synonymous with responsibility or attribution. We explain with the following example: Leader Nelson Mandela is given all the credit for the concept of peace in African countries, since he was responsible for the fight against Apartheid (The phenomenon of racial discrimination that affected South Africa in past decades). Thanks to this, Nelson Mandela is credited as the leader of world peace.
