What is the relationship between credit and debt?

2 answers:

6 0

Credit is a card in which you can spend more and have to pay back the money, debt is where you can only spend the money you have in a card

nikitadnepr [17]3 years ago

3 0

Debit is credit that is used. Credit must be extended before debt can be assumed. Just because credit is extended does not mean debt is assumed; the borrower must use the credit before it becomes a debt. Likewise, assuming debt does not automatically mean more credit will be extended.

so your answer will be Credit must be extended before debt can be assumed.

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