The free hosting credit allows you to 2.5gb 250gb transfer disk space for free when you buy your domain name.
Basically its tha same hosting they offer less a few minor features but it works alrite.
However the catch here is it is ad supported.
Imagine on every page...right at the top, Godaddy has its ad there and they actually take a HUGE chunk of space too.
If you wanna how the ad spacing is done go to my side here:
Dark Secretz
Personally...to me it's not worth it....that's why i didnt even bother to finish up my website there...I'd rather pay or find something else.
Cheers
Nazz