cred·it   (krěd'ĭt)    n.   Belief or confidence in the truth of something. See Synonyms at belief. A reputation for sound character or quality; standing: It is to their credit that they worked so hard without complaining. A source of honor or distinction: This exceptional athlete is a credit to our team. Recognition or approval for an act, ability, or quality: gave them credit for a job well done. Influence based on the good opinion or confidence of others. An acknowledgment of work done, as in the production of a motion picture or publication. Often used in the plural: At the end of the film we stayed to watch the credits. Official certification or recognition that a student has successfully completed a course of study: He received full credit for his studies at a previous school. A unit of study so certified: This course carries three credits. An arrangement for deferred payment of a loan or purchase: a store that offers credit; bought my stereo on credit. The terms governing such an arrangement: low prices and easy credit. The time allowed for deferred payment: an automatic 30-day credit on all orders. The deduction of a payment made by a debtor from an amount due. The right-hand side of an account on which such amounts are entered. An entry or the sum of the entries on this side. The positive balance or amount remaining in a person's account. A credit line. Reputation for solvency and integrity entitling a person to be trusted in buying or borrowing: You should have no trouble getting the loan if your credit is good. An arrangement for deferred payment of a loan or purchase: a store that offers credit; bought my stereo on credit. The terms governing such an arrangement: low prices and easy credit. The time allowed for deferred payment: an automatic 30-day credit on all orders. The deduction of a payment made by a debtor from an amount due. The right-hand side of an account on which such amounts are entered. An entry or the sum of the entries on this side. The positive balance or amount remaining in a person's account. A credit line. Accounting The deduction of a payment made by a debtor from an amount due. The right-hand side of an account on which such amounts are entered. An entry or the sum of the entries on this side. The positive balance or amount remaining in a person's account. A credit line. tr.v.   cred·it·ed, cred·it·ing, cred·its To believe in; trust: "She refused steadfastly to credit the reports of his death" (Agatha Christie). To regard as having performed an action or being endowed with a quality: had to credit them with good intentions. To ascribe to a person; attribute: credit the invention to him. See Synonyms at attribute. To enter as a credit: credited $500 to her account. To make a credit entry in: credit an account. Accounting To enter as a credit: credited $500 to her account. To make a credit entry in: credit an account. To give or award an educational credit to. Archaic To bring honor or distinction to. [French, from Old French, from Old Italian credito, from Latin crēditum, loan, from neuter past participle of crēdere, to entrust; see kerd- in Indo-European roots.]

Credit

Cred"it\ (kr[e^]d"[i^]t), n. [F. cr['e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See Creed.]

1. Reliance on the truth of something said or done; belief; faith; trust; confidence.

When Jonathan and the people heard these words they gave no credit unto them, nor received them. --1 Macc. x. 46.

2. Reputation derived from the confidence of others; esteem; honor; good name; estimation.

John Gilpin was a citizen Of credit and renown. --Cowper.

3. A ground of, or title to, belief or confidence; authority derived from character or reputation.

The things which we properly believe, be only such as are received on the credit of divine testimony. --Hooker.

4. That which tends to procure, or add to, reputation or esteem; an honor.

I published, because I was told I might please such as it was a credit to please. --Pope.

5. Influence derived from the good opinion, confidence, or favor of others; interest.

Having credit enough with his master to provide for his own interest. --Clarendon.

6. (Com.) Trust given or received; expectation of future playment for property transferred, or of fulfillment or promises given; mercantile reputation entitling one to be trusted; -- applied to individuals, corporations, communities, or nations; as, to buy goods on credit.

Credit is nothing but the expectation of money, within some limited time. --Locke.

7. The time given for payment for lands or goods sold on trust; as, a long credit or a short credit.

8. (Bookkeeping) The side of an account on which are entered all items reckoned as values received from the party or the category named at the head of the account; also, any one, or the sum, of these items; -- the opposite of debit; as, this sum is carried to one's credit, and that to his debit; A has several credits on the books of B.

Bank credit, or Cash credit. See under Cash.

Bill of credit. See under Bill.

Letter of credit, a letter or notification addressed by a banker to his correspondent, informing him that the person named therein is entitled to draw a certain sum of money; when addressed to several different correspondents, or when the money can be drawn in fractional sums in several different places, it is called a circular letter of credit.

Public credit. (a) The reputation of, or general confidence in, the ability or readiness of a government to fulfill its pecuniary engagements. (b) The ability and fidelity of merchants or others who owe largely in a community.

He touched the dead corpse of Public Credit, and it sprung upon its feet. --D. Webster.

credit

The ability to obtain goods, money, or services in return for a promise to pay at some later date.

credit 

Credit

1. A contractual agreement in which a borrower receives something of value now, with the agreement to repay the lender at some date in the future. Also, the borrowing capacity of an individual or company.

2. An accounting entry system that either decreases assets or increases liabilities.

Investopedia Commentary

2. The opposite transaction is a debit.

Related Links

The Importance of Your Credit Rating

See also: Bond, Credit Card, Credit Cliff, Credit Enhancement, Credit Spread, Debit, Line of Credit, Mortgage

credit

1. The ability to borrow or to purchase goods and services with payment delayed beyond delivery.
2. An accounting entry resulting in an increase in liabilities or owners' equity or in a decrease in assets. Compare debit.
3. The balance in an account.

Main Entry: ¹cred·it
Function: noun
1 : RECOGNITION —see also FULL FAITH AND CREDIT
2 a : the balance in an account which may be drawn upon and repaid later —compare LOAN b : the use of resources (as money) in the present obtained by the debtor's promise to repay the creditor in the future usually with interest as compensation to the creditor and often secured by a pledge of property or the right to attach the debtor's income in case of a failure to repay —see also CONSUMER CREDIT —compare DEBT c : financial reputation credit of the United States —U.S. Constitution article I> d : LETTER OF CREDIT
3 a : a deduction from an expense or asset account b : a reduction of an amount otherwise due; especially : TAX CREDIT credit for child-care expenses> —compare DEDUCTION, EXCLUSION, EXEMPTION

credit

see do someone proud (credit to); extend credit to; get credit for; give credit where credit is due.