Credit

From CaseyPedia

Credit is the granting of a loan and the creation of debt. In most cases, this involves an assessment of the borrower's creditworthiness, which may be expressed in terms of a FICO score.

Common forms of credit used by consumers include mortgages, which are used to finance the purchase of a property; auto loans, which are used to finance the purchase of a vehicle; and credit cards, which allow the purchase of a full range of consumer products up to a specified credit limit.