● What is credit?
Credit is ability to borrow money in return for a promise of future payment. If you don't pay back the money it will hurt your credit score.
● What are the forms of credit?

Personal Loans is a loan that establishes consumer credit that is granted for personal use.

Credit Card is a plastic card issued by a bank, business, etc., for the purchase of goods or services on credit.

● What costs are associated with credit?
Interest rate(APR) which is the percentage of a sum of money charged for its use.
● What determines if someone gets credit and how much they get?
character, capacity, credit worthiness, collateral

Credit Bureau- A company that collects the credit ratings of individuals and makes them available to credit card companies, financial institutions, etc

Credit report-Credit history or credit report is, in many countries, a record of an individual's or company's past borrowing

Lender-An organization or person that lends money