Credit is based upon confidence. Credit is also based upon futurity of payment. There is some difference of opinion as to whether confidence or futurity is the essential thing in credit and as to whether credit is based upon money or upon goods. Futurity may be said to be the distinctive factor in credit, while confidence lies at the basis of the granting of credit. The time element in credit is likewise very important. In every type of credit transaction, as call loans and mortgage loans, confidence rests more on the security or property pledged than upon the borrower's personal integrity, though confidence is present in some form or other in all transactions involving the granting of credit. Credit is usually expressed in terms of money, though it is extended by means of goods, and is completed by the payment of money.