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Gangesh Rameshkumar

Figure it out • 10m

Today's term of the day: Credit Credit is a kind of loan handed out by financial institutions to businesses and individuals. You can think of it as the ability you have to borrow resources from a lender to pay at a later date, with interest for using those resources Making sure that you pay back the intended amount to the lender at the specified date helps increase your credit score. Lenders take a peek at your credit score to determine if you're a safe bet - That is, if lending money to you ensures that they get it back in the future.

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