Course 510 lessons

Credit and debt

How borrowing really works, from credit cards and loans to credit scores, plus how to tell helpful debt from harmful debt and how to dig your way out.

What is credit?

Credit is simply the ability to borrow money now and pay it back later, usually with a bit extra on top as the cost of borrowing. When a bank gives you a credit card or a lender approves a loan, they are trusting that you will pay them back over time.