credit systems
Borrowing and tracking
Credit systems are frameworks for tracking what is owed or earned.
Financial credit systems govern borrowing and lending—credit cards, loans, credit scores that rate trustworthiness.
Educational credit systems assign units toward degrees: She needs twelve more credits to graduate.
Loyalty programs operate credit systems where points accumulate toward rewards.
Social credit systems, as in China, track citizen behavior for privileges or penalties.
- loansBorrowed money arrangements
- bankingFinancial institution transactions
- interest ratesPrice paid for borrowing
- creditworthinessAbility to repay debts
- liquidityConvertibility to cash
microfinance · financial literacy · peer-to-peer lending · capital markets · consumer protection laws · monetary policy · bankruptcy laws · payment gateways · tax codes · banking sector · installment · debt · debt trap · rating · points · risk assessment · borrowing · rewards
- early bankingmoney changers, moneylenders, moneylending, money lending, loans
- commercetrade, banking, merchant, imports, sales
- moneydollar, euro, coin, cash, pound
- economic historystock market crash, Industrial Revolution, trade routes, Great Depression, gold standard
- Banking Historybank runs, bank failures, central banks, Federal Reserve, gold standard
- colonial moneypaper money, paper currency, Spanish dollar, piece of eight, pieces of eight
credit systemscash transactions
Purchases made with bills
cash economy · pay-as-you-go · prepayment · cash on delivery · upfront payment
credit systemsbarter systems
Moneyless exchange arrangements
barter economy · direct exchange · subsistence economy · gift economy · underground economy