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Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people.
The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
Adam Smith believed that barter preceded credit in history, but most recent anthropological research proved otherwise. Barter mostly took place between those individuals who lack trust with one another e.g. hostile or unknown tribes usually made their transactions via barter. On the contrary, members of the same tribe mostly settled their transactions in credit\debt.

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  1. JustSomeGuy

    How credit card issuers can help curb gun violence

    Came across this editorial in the February edition of American Banker magazine. It was written by Duncan MacDonald, a banking attorney and retired group counsel for Citigroup's North American and European card businesses. In a nutshell, it advocates card companies tracking/monitoring trends in...
  2. RicInOR

    National  Guns don't kill people, Credit Cards Kill People

    Guess what time it is campers ... Majority of mass shooters finance their weapon stockpiles with credit Obvious time. Would you guess that most guns are bought with credit cards. Guess what that means.
  3. B

    Washington  Get out your checkbooks, debit cards, credit cards and hidden wallet stash

    I'm HOPING we can have a singular page here to build upon fighting this and not spread out to heaven knows what/where. There's no doubt it's going to cost $ and we NEED a SINGLE source of income. My suggestion being a GoFundMe page. All the $ into one pot for someone like the SAF to work from...
  4. Joe Link

    National  Ruger secures $40 million line of credit from Wells Fargo

    Ruger secures $40 million line of credit from Wells Fargo
  5. Nanavic97

    Shopify bans firearms industry from franklin armory today

    I received a few e-mails today from firearm companies that had information about their e-commerce provider changing their policy regarding firearm and firearm accessories sales online...
  6. A

    Oregon  Would you support a Oregon Tax Credit Program for New Gun Safe Purchases

    Disclosure: I like minimal government and low taxes! Oregon has provided tax credits for all kinds of products from electric cars to toilets to wood stoves, etc. I guess they feel these products somehow supported the public good in one way or another. Many anti gun people claim the anti gun...
  7. IOM

    National  Gun Businesses Scramble After Credit Card Service Stops Processing Payments on all Gun Purchases Wit

    Mixing politics and business is bad business. Just ask the NFL. But that isn’t stopping the credit service, Intuit, from taking a stance against the Constitution. Intuit, without warning, ceased processing credit card payments at firearm-related businesses across the country, resulting in...
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