‘Credit’ means ‘buy (or borrow) now and pay later’. Credit is nearly always a service you pay for, so you pay back the amount borrowed plus a percentage on top. You usually pay it back in instalments over a period of time. You cannot normally take on any kind of credit before you are 18. No company will lend you money without believing they will get it back from you – for example because you have a regular income, or you have a history of paying money back on time. After all, this is their business. Credit comes in several forms: