Credit Definition–noun | 1. | commendation or honor given for some action, quality, etc.: Give credit where it is due. |
| 2. | a source of pride or honor: You are a credit to your school. |
| 3. | the ascription or acknowledgment of something as due or properly attributable to a person, institution, etc.: She got a screen credit for photography. |
| 4. | trustworthiness; credibility: a witness of credit. |
| 5. | confidence in a purchaser's ability and intention to pay, displayed by entrusting the buyer with goods or services without immediate payment. |
| 6. | reputation of solvency and probity, entitling a person to be trusted in buying or borrowing: Your credit is good. |
| 7. | influence or authority resulting from the confidence of others or from one's reputation. |
| 8. | time allowed for payment for goods or services obtained on trust: 90 days' credit. |
| 9. | repute; reputation; esteem. |
| 10. | a sum of money due to a person; anything valuable standing on the credit side of an account: He has an outstanding credit of $50. |
| 11. | Education. | a. | official acceptance and recording of the work completed by a student in a particular course of study. |
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| 12. | Bookkeeping. | a. | an entry of payment or value received on an account. |
| b. | the right-hand side of an account on which such entries are made (opposed to debit). |
| c. | an entry, or the total shown, on the credit side. |
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| 13. | any deposit or sum of money against which a person may draw. |
–verb (used with object) | 14. | to believe; put confidence in; trust; have faith in. |
| 15. | to bring honor, esteem, etc., to; reflect well upon. |
| 16. | Bookkeeping. to enter upon the credit side of an account; give credit for or to. |
| 17. | Education. to award educational credits to (often fol. by with): They credited me with three hours in history. |
—Verb phrase| 18. | credit to or with, to ascribe to a (thing, person, etc.): In former times many herbs were credited with healing powers. |
—Idioms| 19. | do someone credit, to be a source of honor or distinction for someone. Also, do credit to someone. |
| 20. | on credit, by deferred payment: Everything they have was bought on credit. |
| 21. | to one's credit, deserving of praise or recognition; admirable: It is to his credit that he freely admitted his guilt. |
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From Dictionary
Related topics from Britannicacredit
transaction between two parties in which one (the creditor or lender) supplies money, goods, services, or securities in return for a promised future payment by the other (the debtor or borrower). ...
Social Credit Party
minor Canadian political party founded in 1935 by William Aberhart in Alberta and based on British economist Clifford Douglas's Social Credit theory. By the late 1930s the party had virtually ...
credit bureau
organization that provides information to merchants or other businesses relating to the creditworthiness of current and prospective customers. Credit bureaus may be private enterprises or ...
credit union
credit cooperative formed by an organized group of people with some common bond who, in effect, save their money together and make low-cost loans to each other. The loans are usually short-term ...
installment credit
in business, credit that is granted on condition of its repayment at regular intervals, or installments, over a specified period of time until paid in full. Installment credit is the means by which ...
credit card
small card containing a means of identification, such as a signature or picture, that authorizes the person named on it to charge goods or services to an account, for which the cardholder is billed ...
investment credit
tax incentive that permits businesses to deduct a specified percentage of certain investment costs from their tax liability, in addition to the normal allowances for depreciation (q.v.). Investment ...
revolving credit
system of retail credit in which the buyer makes periodic payments to an account to which his purchases and service charges have been debited. The service charge is based on the outstanding balance; ...
consumer credit
short- and intermediate-term loans used to finance the purchase of commodities or services for personal consumption or to refinance debts incurred for such purposes. The loans may be supplied by ...
credit, letter of
order from a bank to a bank or other party abroad authorizing payment of money (up to a specified limit) to a person named in the letter. A letter of credit, unlike a bill of exchange (q.v.), is not ...
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