credit

noun

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cred·it | \ ˈkre-dit

Definition of credit

(Entry 1 of 2)

1 : reliance on the truth or reality of something gave credit to everything he said Give no credit to idle rumors.

2a : 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 They 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

3a : 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

6a : something that gains or adds to reputation or esteem : honor He 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 (such as a film or telecast) the opening credits

8a : recognition by a school or college that a student has fulfilled a requirement leading to a degree

b : credit hour earned 15 credits last semester

credit

verb

credited; crediting; credits

Definition of credit (Entry 2 of 2)

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

4a : to enter upon the credit side of an account

b : to place an amount to the credit of credit his account with ten dollars

5a : 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.

Synonyms Choose the Right Synonym More Example Sentences Learn More about credit

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Choose the Right Synonym for credit

Noun

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

Verb

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

Examples of credit in a Sentence

Noun banks that extend credit to the public You need to have a strong credit history and a good job in order to get a mortgage. A credit of $50 was added to your account. All the credit must go to the play's talented director. She's finally getting the credit she deserves. He shared the credit with his parents. You've got to give her credit; she knows what she's doing. Verb Your payment of $38.50 has been credited to your account. The bank is crediting your account for the full amount. They credited the rescue to his quick thinking.

Recent Examples on the Web: Noun These neo-banks have been trying to make money in the usual ways: By taking a cut of credit or debit card transactions, collecting interest on consumer deposits, and making loans. — Wired, "The Future of Banking Is … You're Broke," 14 Nov. 2019 Others give credit to the work of President George H.W. Bush or U.K. Prime Minister Margaret Thatcher. — Patrick Connolly, orlandosentinel.com, "Berlin Wall 30th Anniversary: Brevard County veteran recalls watching the wall fall," 8 Nov. 2019 Chris Wilder's got a lot of credit for his work with the Blades since arriving in 2016, and that's all totally justified. — SI.com, "The Relegation Battle: 90min Predicts Which Premier League Teams Will Go Down This Season," 6 Nov. 2019 This group represents people below age 40 who don’t have a mortgage, but have strong enough credit to qualify for one; a debt-to-income ratio of 25 percent or less; and no recent foreclosures, bankruptcies, or serious delinquencies. — Boston.com Real Estate, "For many black millennials, student debt is the biggest hurdle to homeownership," 5 Nov. 2019 The stock market became a game anyone could play, especially thanks to the practice of letting people buy stocks on margin—essentially deferring payment of the stock by doing so on credit. — Alexander Torrenegra, Quartz at Work, "Remote work wooed us with its perks but do we know where it’s taking us?," 4 Nov. 2019 My defensive coordinator Greg Francis should really get a lot of credit for that. — Matt Schubert, The Denver Post, "Colorado Prep Football Rewind, Week 10: Perfection in 5A, Ralston Valley’s shutdown defense and Aidan Atkinson goes ham… again," 2 Nov. 2019 Your performance reviews can also give you a different view of your strengths, many times professionals take their skills for granted and give themselves less credit for a job well done. — Kimberly Thompson, Houston Chronicle, "Career Rescue: Make all your accomplishments count in job search," 2 Nov. 2019 An inverted yield curve with short-term rates pinned at the zero lower bound would be untenable for the system, further undermining the availability of credit and the economy. — Mark Zandi For Cnn Business Perspectives, CNN, "Pressure will be on the Fed to clean up Trump's trade war mess," 31 Oct. 2019 Recent Examples on the Web: Verb Officials credited him with helping two colleagues reach safety and desperately searching for anyone else trapped inside before the fire overwhelmed him. — BostonGlobe.com, "“If we really want to change the outcome of future fires, we need to start putting fire sprinklers in these buildings,” said David LaFond, the former Holyoke fire chief who’s currently a New England regional manager for the National Fire Sprinkler Association. “We can really mitigate the hazards.”," 15 Nov. 2019 As bitter cold took hold across the Midwest earlier this week, a sharp-eyed bus driver in Wisconsin was credited with helping rescue two children who were very underdressed for the weather conditions. — Fox News, "Wisconsin bus driver saves children wandering in snow, as deadly Arctic air mass grips US," 13 Nov. 2019 Nicolás Lodeiro and Gustav Svensson were credited with assists. — Alicia Delgallo, Pro Soccer USA, "Watch: Seattle Sounders outscore Toronto FC 3-1 to win MLS Cup," 12 Nov. 2019 The songwriter Benny Blanco—a collaborator of Ed Sheeran and Katy Perry, among others—is credited on a few tracks. — Spencer Kornhaber, The Atlantic, "FKA Twigs Deconstructs the Private Show," 8 Nov. 2019 In talking so much about it, Mr Johnson is gambling that voters will credit him for his tough stance while forgiving or forgetting the cuts made by his predecessors. — The Economist, "Tories promise more police—having earlier cut their number," 7 Nov. 2019 Schoen was credited with seven victories in the air earning him the title of ace. — Dawn Mitchell, Indianapolis Star, "Retro Indy: Indianapolis flying ace Karl Schoen killed in one of WWI's greatest dogfights," 7 Nov. 2019 He was credited with helping to save programs that aided black businesses and supporting Democratic President Bill Clinton’s agenda. — Luke Broadwater, baltimoresun.com, "Mfume announces run for Cummings’ seat in Congress with record of accomplishment but baggage," 4 Nov. 2019 Sally Nusslock, the previous health commissioner of the West Allis Health Department, is credited with bringing the Cardiff Model to West Allis. — Talis Shelbourne, Milwaukee Journal Sentinel, "A violence prevention model from the United Kingdom could help reduce violence in the Milwaukee area," 4 Nov. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'credit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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More Definitions for credit

credit

noun

Financial Definition of credit

What It Is

Credit is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given time period. Interest is typically charged on the outstanding balance.

In the accounting world, a credit is also a journal entry reflecting an increase in assets.

How It Works

Credit cards and home equity lines are examples of credit. Your bar tab is another form of credit.

Not all lines of credit are alike. The borrower's creditworthiness and relationship with the lender affect the terms of the lending agreement, as does bank competition, prevailing market conditions and the size of the line in question. Some lenders apply fixed amortization rates to outstanding balances on a line of credit, while some permit interest-only payments for a time, followed by a lump-sum payment of the principal. If the lender has the right to demand repayment at any time, this is called demand credit.

As with any debt, a wide array of specific terms and requirements may apply to a line of credit. It is common in a revolving line of credit, for example, for the lender to charge a company a commitment fee to keep the unborrowed portion of the line available to the borrower. Lenders also may require a compensating balance, liens on the borrower's assets or collateral on a percentage of the line. This is called securing the line. Some lines of credit are unsecured and are thus not backed by specific assets (this often the case with credit cards). Interest rates on unsecured lines are generally higher than secured lines to compensate the lender for the added risk in the event of a default.

Why It Matters

Credit gives borrowers the ability to purchase goods and services (or for companies, credit gives borrowers the ability to invest in projects) that they normally might not be able to afford. By lending the money, creditors make money by charging interest while helping borrowers pursue their projects. However, as many people have learned the hard way, taking on too much debt can cause a lifetime of damage.

Source: Investing Answers

credit

noun

English Language Learners Definition of credit

(Entry 1 of 2)

: 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

credit

verb

English Language Learners Definition of credit (Entry 2 of 2)

: 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

See the full definition for credit in the English Language Learners Dictionary

credit

noun

cred·it | \ ˈkre-dət

Kids Definition of credit

(Entry 1 of 2)

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.

credit

verb

credited; crediting

Kids Definition of credit (Entry 2 of 2)

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 sense 2 Don't credit a statement from a stranger.

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credit

noun

cred·it

Legal Definition of credit

(Entry 1 of 2)

1 : recognition — see also full faith and credit

2a : 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 to borrow money on the credit of the United States — U.S. Constitution art. I

d : letter of credit

3a : a deduction from an expense or asset account