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What (who) is Credit - definition
LOAN
Consumer Credit; Consumer lending; Lending industry; Consumer credit; Consumer loan; Credited; Crediting; Bank credit; Credit (economics); Consumer-loan company; Credit supply; Credit (song); Credit (finance)
credit
I. n.
1.
Belief, trust, faith, confidence, credence, reliance.
2.
Reputableness, esteem, regard, good repute, good reputation, high character.
3.
Influence (of a good name), power.
4.
Merit, honor, proof of desert.
5.
Trust (in future payment), loan.
6.
Money due, securities, evidence of debt (on the part of others).
II. v. a.
1.
Believe, give faith to, put faith in, rely upon, confide in, doubt not, make no doubt of, take upon credit.
2.
Place to the credit of, carry to the credit of one's account, enter upon the credit side.
3.
Trust (for future payment), loan (on trust or security).
credit
I
n.
time given for payment
1) to allow, give, extend, offer credit (this store does not give credit)
2) to deny, refuse smb. credit
3) consumer credit
4) on credit (to buy smt. on credit)
recognition
honor
5) to do credit to; to reflect credit on (her work does credit to her teachers)
6) to get, take credit for (he took credit for my work)
7) to give smb. credit for (I give her credit for being so sensible)
8) a credit to (she is a credit to her parents)
9) credit that + clause (it was to her credit that she never gave up)
10) to smb.'s credit (to her credit, she was never late to work; with all due credit to you)
sum allowed, deducted
11) an energy (AE); tax credit
recognition that a student has completed a course or unit of study
12) to get, receive credit for a course
13) advanced credit
II
v.
1) (D; tr.) to credit to (to credit an amount to smb. s account)
2) (d; tr.) to credit with (to credit smb. with common sense; to credit an account with fifty dollars)
credit
¦ noun
1. the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
money lent or made available under such an arrangement.
2. an entry in an account recording a sum received.
3. public acknowledgement or praise given for an achievement or quality.
a source of pride: the fans are a credit to the club.
4. (also credit title) an item in a list displayed at the beginning or end of a film or programme, acknowledging a contributor's role.
5. chiefly N. Amer. the acknowledgement of a student's completion of a course or activity that counts towards a degree or diploma.
Brit. a grade above a pass in an examination.
6. archaic credibility.
good reputation.
¦ verb (credits, crediting, credited)
1. publicly acknowledge someone as a participant in the production of (something published or broadcast).
(credit someone with) ascribe (an achievement or good quality) to someone.
2. add (an amount of money) to an account.
3. Brit. believe (something surprising or unlikely).
Phrases
be in credit (of an account) have money in it.
do someone credit make someone worthy of praise or respect.
have something to one's credit have achieved something notable.
on credit with an arrangement to pay later.
Origin
C16: from Fr. credit, prob. via Ital. credito from L. creditum, neut. past participle of credere 'believe, trust'.
Wikipedia
Credit
Credit (from Latin verb credit, meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. The resources provided by the first party can be either property, fulfillment of promises, or performances. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people.
The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
Examples of use of Credit
1. They include public credit registries, credit rating agencies and, of course, credit bureaus.
2. This will enable them to attract better credit terms and have speedier access to credit and credit decisions.
3. Esther James, credit card analyst at Moneyfacts, said: "It seems as if the credit crunch is beginning to cause credit card chaos.
4. Carol Skees Albuquerque, N.M. ___ Three national credit bureaus _ Equifax, Experian and TransUnion _ generate credit reports, which are used to determine credit scores, also called FICO scores.
5. Credit problems began with "subprime" mortgages held by people with spotty credit histories or low incomes.