Pay by installments/credit

[Rachel Adams]

Hello.

To rephrase the underlined sentence I can use ''to pay by installments'' but can I use ''credit'' too? It's from Collins Reading B1.

''I can't afford to pay for the whole sofa now. Can I pay a bit each month?''

 

[emsr2d2]

Please write the complete sentence you are proposing (using "credit").

 

[Rachel Adams]

Please write the complete sentence you are proposing (using "credit").

For example, I decided to buy a computer on credit. Doesn't buying something on credit involve paying for the item by instalments? You have to pay deposits. So ''credit'' and ''installments/deposit'' aren't synonyms.

 

[emsr2d2]

If you buy something on credit, you usually don't pay anything at all upfront. You get to take the product away and start paying at a later date. The arrangement is usually underwritten by a third-party credit company. That company gives the money to the shop straight away and you then pay the credit company back.

If you buy something and pay in instalments, it's frequently an arrangement direct with the shop/company you buy it from. They don't get any money straight away. They only get it when you pay them every week/month/quarter.

There is some overlap, though, at least in how it works. Both involve paying a specific amount every week/month etc.

Here's an example - in the UK, every household has to pay something called "council tax". It's an annual amount that goes to your local council. Each household is sent a bill just before the start of the financial year (5th April). The bill is payable in instalments - the annual amount is broken down into 10 or 12 monthly payments. At the end of that time, you have paid the entire bill. That would never be referred to as dealing with your council tax "on credit".

 

[Rachel Adams]

Thank you very much for your detailed explanation. A friend of mine told me if you buy something on credit, it is always repaid with interest, but when you pay in installments it's interest free. So if my friend is right, when I say, for example, ''I am going to buy a computer on credit'' I don't need to mention that it not interest free?

 

[emsr2d2]

Your friend is wrong on both counts. Many companies offer items that can be paid for in instalments interest-free. You'll see signs up in many UK electronics and furniture shops saying, for example, "Buy now, pay later - 36 months 0% interest". It's a way of getting people to buy high-cost goods if they are unable to pay the full cost up front and they don't want to pay interest. However, with some instalment plans, there is an interest fee every month.

Credit cards are different - with the exception of some introductory offers, you pay interest on everything you "borrow" from a credit card, unless you pay the balance off in full in the first 4-5 weeks after the purchase.

 

[Rachel Adams]

Your friend is wrong on both counts. Many companies offer items that can be paid for in instalments interest-free. You'll see signs up in many UK electronics and furniture shops saying, for example, "Buy now, pay later - 36 months 0% interest". It's a way of getting people to buy high-cost goods if they are unable to pay the full cost up front and they don't want to pay interest. However, with some instalment plans, there is an interest fee every month.

Credit cards are different - with the exception of some introductory offers, you pay interest on everything you "borrow" from a credit card, unless you pay the balance off in full in the first 4-5 weeks after the purchase.

I see. Many thanks! I hope it's not off topic to ask about the use of articles before the word ''credit''. Should I use an article before credit in the following example, if I use ''credit'' instead of the word ''loan''? ''You will have to pay interest on a loan/ on a credit.''

 

[Yankee]

"......on a loan" or "on a credit charge".

 

[Rachel Adams]

"......on a loan" or "on a credit charge".

Thank you and one more question do you say ''start credit in a bank'' instead of ''take credit in a bank?''

 

[emsr2d2]

As always, please put the phrases in a complete sentence for us to consider. As they stand, neither of them work.

 

[Tarheel]

Thank you and one more question. Do you say ''start credit in a bank'' instead of ''take credit in a bank?''

Neither one for me.

 

[tedmc]

I would say get/obtain credit facilities/loan from a bank.

 

[Rachel Adams]

As always, please put the phrases in a complete sentence for us to consider. As they stand, neither of them work.

Speaker A ''I am going to buy a tv set on credit''.
Speaker B ''Yes, you can take credit in a bank''.

Speaker A ''I am going to renovate my flat''.
Speaker B ''You can take credit in a bank''. I am talking about a bank loan here.

Is ''take credit'' correct and is itpossible to use ''start credit'' instead of ''take?''

 

[emsr2d2]

You answered your own question. It's called a bank loan.

 

[Rachel Adams]

I would say get/obtain credit facilities/loan from a bank.

So...
Speaker A ''I am going to buy a tv set on credit''.
Speaker B ''Yes, you can get/obtain credit facilities from a bank''. Or ''You can get/obtain a loan from a bank.''

Speaker A ''I am going to renovate my flat''.
Speaker B ''Yes, you can get/obtain credit facilities from a bank''. Or ''You can get/obtain a loan from a bank.''

 

[Rachel Adams]

Admins, please don't close this thread until I receive an answer to post #17.

 

[GoesStation]

Twist, I've deleted your two most recent posts. They did not contribute positively, and they didn't state "Not a teacher".

Please read this extract from the forum's Posting Guidelines:


You are welcome to answer questions posted in the Ask a Teacher forum as long as your suggestions, help, and advice reflect a good understanding of the English language. If you are not a teacher, you will need to state that clearly in your post. Please note, all posts are moderated by our in-house language experts, so make sure your suggestions, help, and advice provide the kind of information an international language teacher would offer. If not, and your posts do not contribute to the topic in a positive way, they will be subject to deletion.

 

[Yankee]

So...
Speaker A ''I am going to buy a tv set on credit''. OK.
Speaker B ''Yes, you can get/obtain credit facilities (or 'a credit account') from a bank''. Or ''You can get/obtain a loan from a bank.'' ( Either is OK, and I know the statements are only examples for checking grammar, but one would usually not request a loan to purchase a TV.

Speaker A ''I am going to renovate my flat''.
Speaker B ''Yes, you can get/obtain credit facilities (or "an account") from a bank''. Or ''You can get/obtain a loan from a bank.'(OK)'

Yankee

 

[Rachel Adams]

Yankee

I noticed that on the website academic.ru there are examples in which they use 'a' before ''credit. '' to obtain a credit — получать кредит'' Is their example wrong?

 

[GoesStation]

I noticed that on the website academic.ru there are examples in which they use 'a' before ''credit. '' to obtain a credit — получать кредит'' Is their example wrong?

It could be correct in some contexts. For example, carbon and green energy credits are countable.