Which type of credit is used in place of money, allowing you to buy things now and pay for them later?

Answer 1

The type of credit that is used in place of money, allowing you to buy things now and pay for them later, is called "revolving credit." This type of credit allows you to make purchases up to a certain credit limit and then make payments on the balance over time, typically with added interest. Examples of revolving credit include credit cards and lines of credit.