### Question
What is the definition of credit?


### Answer
The definition of **credit** is as follows in *15 U.S.C. § 1602*:

> the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment

#### Citation:
  - *15 U.S.C. § 1602*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER I-CONSUMER CREDIT COST DISCLOSURE > Part A-General Provisions**

