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History GSHS - USA > Credit > Flashcards

Credit Flashcards

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1
Q

What was credit?

A

Way of Americans buying consumerist goods when they didn’t have the money

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2
Q

How did people pay back the money?

A

Put a deposit down and paid back in installments with added interest

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3
Q

What was loaning money knowing as?

A

Installment plan buying

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4
Q

What did loaning money lead to?

A

Debt

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5
Q

Why wasn’t Americans worried about debt?

A
  • Economy was booming

* People had jobs so could make repayments

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History GSHS - USA (15 decks)

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