Meaning & Definition of word "Credit"

Credit

/ˈkrɛdɪt/

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.
- Example: She has excellent credit and was approved for a new credit card with a high limit.
2. An arrangement to receive cash, goods, or services now and pay for them in the future.
- Example: He bought the car on credit and plans to pay it off in installments.
3. Recognition or praise for an achievement or a quality.
- Example: The director deserves credit for the innovative design of the building.
4. A record of a person’s financial history, including their ability to repay borrowed money.
- Example: Before granting a loan, the bank checked her credit history.

1. To enter an amount of money into an account, increasing the balance.
- Example: The company will credit your account with the reimbursement by the end of the week.
2. To acknowledge someone as a participant in or contributor to something.
- Example: The article credits her as the lead researcher on the project.

Middle English 'credite', from Old French 'credit', from Latin 'creditum' meaning 'a loan'.

credit card:

A plastic card issued by a bank allowing the holder to purchase goods or services on credit.

to give credit:

To acknowledge someone else's contribution or idea.

credit where credit is due:

Acknowledging the merits of someone who deserves recognition.

debtor:

A person or entity that owes a debt.

creditor:

A person or institution that extends credit or loans money.

creditworthiness:

A valuation of the risk involved in lending money to a borrower.

Meaning: Street cred

Example Sentence: He's got serious street cred for his work in the community.

Meaning: Mad credit

Example Sentence: That move got him mad credit with the crew.