On Credit

In finance, the term “on credit” is used in reference to goods and services which are purchased without the immediate settlement of payment.

Goods and services provided on credit must – in most cases – be paid for within a pre-agreed time frame.

In the case of revolving credit, payment is not required. Instead, interest is charged on the debt. Credit cards and store cards are two of the most common examples of revolving credit instruments.

More on this topic:
Swiss credit card comparison

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