What is bank credit in America

What is bank credit in America

Credit is called the amount of money which a bank, savings bank and/or person lends at a certain time under the terms agreed upon. For example: buying my apartment through a mortgage loan.


The word credit also means goodwill or good reputation. "Venezuelan Chef Sumito Steves enjoys international recognition."


What is bank credit in America?

On the other hand, the word credit is used in the university environment as a unit for evaluating the knowledge gained in the study of a subject or topic in the study plans. "It is necessary to take this 30-subject credit to finish the semester."


By extension, in films, novels, plays, and television shows, credits are used to list the names of the actors, producers, artists, technicians, and assistants who have worked on them, among other information.


The colloquial expression to which he is credited is to take something that is real or certain. For example: “The court did not certify the report submitted by the defendant.”


Credit card

A credit card is a plastic carton issued by a financial institution or trading company to purchase goods and services on credit.


It has a magnetic strip that the commerce uses to charge the purchase amount and at the end of the month the customer must pay off his debt with a partial or minimum payment, or if he defaults, if he doesn't, the balance will be funded with the interests.


It is necessary to highlight that a credit card is different from a debit card in that the customer in this account needs to have the funds in his bank account to generate direct charges for the purchase amount, i.e. the expenses are immediately debited to the account balance.


Bank credit

It is recognized as a bank credit for a loan with an amount of money in which a public or private financial entity gives a company or person with the promise of the latter to return it, and also pays interest for the use of the amount. Under this point, the debtor has a current type bank account with the amount of money lent and can be used in full or gradually.


Real estate credit

A mortgage loan, also known as a home equity loan, is a loan of a medium or long-term amount of money to buy, expand, repair or build a home, commercial premises, or office. In this sense, the financial institution requires the acquired property as security to ensure compliance with the payment.


Tax credit

A tax credit is an amount of money in favor of a taxpayer that is then deducted from his tax obligation with the state.

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