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Credit Category
Credit represents the ability to borrow money or access goods and services with the agreement to repay in the future, often with interest. It plays a crucial role in personal finance, business operations, and economic growth by facilitating consumption and investment beyond immediate cash flow. Key components include credit scores, credit limits, and interest rates, which assess and influence an individual's or organization's creditworthiness. Effective management of credit supports financial stability and access to larger financial opportunities.
