credit system
Buy now, later
A credit system is a framework for extending and tracking loans or deferred payments.
Banks operate credit systems for lending; stores offer credit systems for purchases paid over time.
In education, a credit system measures academic progress—students accumulate credits toward graduation: She needs twelve more credits to complete her degree.
- borrowerOne who takes temporarily
- loanBorrowed money repaid later
- payment planArranged installment schedule
- usury lawsStatutes limiting interest rates
- lenderOne who loans money
reputation · good standing · transfer credits · degree requirements · semester hours · course load · interest rate · trustworthiness · debt · collateral · annual percentage rate · company store · creditworthiness · promissory note · buy now pay later · GPA · swipe · accreditation
- Retro ArcadePac-Man, Donkey Kong, Space Invaders, Asteroids, Galaga
- Education Policyeducation policy, education reform, education laws, education funding, education budget
- Exchange Systemsbarter, currency, money, stock market, commodity exchange
- scoresscore, points, scores, point, high score
- allocation methodslottery, quota, rationing, first come first served, merit-based
- federalismstates' rights, federal law, federal district, enumerated powers, federal agency
credit systemcash transactions
Purchases made with bills
cash economy · pay-as-you-go · upfront payment · cash basis · prepayment
credit systemcash-and-carry
Pay upfront, transport yourself
quid pro quo · barter system · direct exchange · gold standard
credit systemcash economy
Commerce using physical currency
barter system · barter economy · direct exchange · subsistence economy · gift economy