Credit is a form of agreement that is between the applicant and lender, to promise to pay for goods or services over time. There will be agreed terms between applicant and the lender for the approved credit that is issued to the applicant. Making payments on time can boost credit scores and increase credit limit on card over time. There are different forms of credit, revolving credit, charge cards, and installment credit. Enjoy the following videos for financial literacy on each type of credit.