Dictionary

1credit

noun cred·it \ˈkre-dit\

: money that a bank or business will allow a person to use and then pay back in the future

: a record of how well you have paid your bills in the past

: an amount of money that is added to an account

Full Definition of CREDIT

1
:  reliance on the truth or reality of something <gave credit to everything he said>
2
a :  the balance in a person's favor in an account
b :  an amount or sum placed at a person's disposal by a bank
c :  the provision of money, goods, or services with the expectation of future payment <long-term credit>; also :  money, goods, or services so provided <exhausted their credit>
d (1) :  an entry on the right-hand side of an account constituting an addition to a revenue, net worth, or liability account
(2) :  a deduction from an expense or asset account
e :  any one of or the sum of the items entered on the right-hand side of an account
f :  a deduction from an amount otherwise due
3
a :  influence or power derived from enjoying the confidence of another or others
b :  good name :  esteem; also :  financial or commercial trustworthiness
4
archaic :  credibility
5
:  a source of honor <a credit to the school>
6
a :  something that gains or adds to reputation or esteem :  honor <took no credit for his kindly act>
b :  recognition, acknowledgment <quite willing to accept undeserved credit>
7
:  recognition by name of a person contributing to a performance (as a film or telecast) <the opening credits>
8
a :  recognition by a school or college that a student has fulfilled a requirement leading to a degree
b :  credit hour
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Examples of CREDIT

  1. banks that extend credit to the public
  2. You need to have a strong credit history and a good job in order to get a mortgage.
  3. A credit of $50 was added to your account.
  4. All the credit must go to the play's talented director.
  5. She's finally getting the credit she deserves.
  6. He shared the credit with his parents.
  7. You've got to give her credit; she knows what she's doing.

Origin of CREDIT

Middle French, from Old Italian credito, from Latin creditum something entrusted to another, loan, from neuter of creditus, past participle of credere to believe, entrust — more at creed
First Known Use: 1537

Synonym Discussion of CREDIT

belief, faith, credence, credit mean assent to the truth of something offered for acceptance. belief may or may not imply certitude in the believer <my belief that I had caught all the errors>. faith almost always implies certitude even where there is no evidence or proof <an unshakable faith in God>. credence suggests intellectual assent without implying anything about grounds for assent <a theory now given credence by scientists>. credit may imply assent on grounds other than direct proof <gave full credit to the statement of a reputable witness>.

influence, authority, prestige, weight, credit mean power exerted over the minds or behavior of others. influence may apply to a force exercised and received consciously or unconsciously <used her influence to get the bill passed>. authority implies the power of winning devotion or allegiance or of compelling acceptance and belief <his opinions lacked authority>. prestige implies the ascendancy given by conspicuous excellence or reputation for superiority <the prestige of the newspaper>. weight implies measurable or decisive influence in determining acts or choices <their wishes obviously carried much weight>. credit suggests influence that arises from the confidence of others <his credit with the press>.

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

2credit

verb

: to add (an amount of money) to a total

: to add money to (an account)

: to give honor or recognition to (someone or something) for doing something or for making something happen

Full Definition of CREDIT

transitive verb
1
:  to trust in the truth of :  believe <find his story hard to credit>
2
:  to supply goods on credit to
3
archaic :  to bring credit or honor upon
4
a :  to enter upon the credit side of an account
b :  to place an amount to the credit of <credit his account with ten dollars>
5
a :  to consider usually favorably as the source, agent, or performer of an action or the possessor of a trait <credits him with an excellent sense of humor>
b :  to attribute to some person <they credit the invention to him>

Examples of CREDIT

  1. Your payment of $38.50 has been credited to your account.
  2. The bank is crediting your account for the full amount.
  3. They credited the rescue to his quick thinking.

Origin of CREDIT

partly from 1credit; partly from Latin creditus, past participle
First Known Use: circa 1530

Synonym Discussion of CREDIT

ascribe, attribute, assign, impute, credit mean to lay something to the account of a person or thing. ascribe suggests an inferring or conjecturing of cause, quality, authorship <forged paintings formerly ascribed to masters>. attribute suggests less tentativeness than ascribe , less definiteness than assign <attributed to Rembrandt but possibly done by an associate>. assign implies ascribing with certainty or after deliberation <assigned the bones to the Cretaceous period>. impute suggests ascribing something that brings discredit by way of accusation or blame <tried to impute sinister motives to my actions>. credit implies ascribing a thing or especially an action to a person or other thing as its agent, source, or explanation <credited his teammates for his success>.

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

Rhymes with CREDIT

CREDIT Defined for Kids

1credit

noun cred·it \ˈkre-dət\

Definition of CREDIT for Kids

1
:  recognition or honor received for some quality or work <A doctor was given credit for the discovery.> <She got extra credit for her report.>
2
:  the balance in an account in a person's favor
3
:  money or goods or services allowed to a person by a bank or business with the expectation of payment later
4
:  good reputation especially for honesty :  high standing
5
:  a source of honor or pride <You are a credit to your school.>
6
:  a unit of schoolwork <I took two credits in Spanish.>
7
:  belief or trust in the truth of something <These rumors deserve no credit.>

Word Root of CREDIT

The Latin word credere, meaning to believe, gives us the root cred. Words from the Latin credere have something to do with believing someone or something. Something credible is easy to believe, while something incredible is so out of the ordinary that it is difficult to believe. Giving credit to something someone says is believing that it is true.

2credit

verb
cred·it·edcred·it·ing

Definition of CREDIT for Kids

1
:  to give recognition or honor to for something <The team credited their coach for the championship.>
2
:  to place something in a person's favor on (a business account) <We will credit your account with ten dollars.>
3
:  believe 2 <Don't credit a statement from a stranger.>
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