What does it mean when you are in credit?
If you pay your energy bill by direct debit, you might end up being ‘in credit’ with your supplier – this means that they owe you money.
Is it better to be in credit or debit?
For most people, it’s typically best to use credit cards for the bulk of your purchases, Matt Schulz, a credit card expert at LendingTree, tells CNBC Make It. Though the security gap between credit cards and debit cards has shrunk over the past few years, credit cards still have an edge over the competition.
What does it mean to pay with credit?
Using credit means you borrow money to buy something. You borrow money (with your credit card or loan). You buy the thing you want. You pay back that loan later – with interest.