Credit

Definition

Credit refers to the trust that allows one party to provide resources or money to another with the expectation of future repayment. It is also used to acknowledge someone's contribution or achievement.

Parts of Speech

• Noun
• Verb

Pronunciation

American English

• IPA Pronunciation: /ˈkrɛd.ɪt/
• Respelling: KRED-it

British English

• IPA Pronunciation: /ˈkrɛd.ɪt/
• Respelling: KRED-it

Etymology

The word "credit" originates from the Latin "creditum," meaning "a loan" or "a thing entrusted," derived from "credere," meaning "to believe or trust." The term entered English through Old French and Middle English, where it retained its association with trust, lending, and acknowledgment.

Derivatives

• Creditor (noun)
• Creditworthy (adjective)
• Creditless (adjective)
• Creditable (adjective)
• Credits (plural noun)

Synonyms

• Trust
• Loan
• Acknowledgment

Antonyms

• Debt
• Blame
• Disbelief

Usage

The term "credit" is used in finance to describe a transaction based on trust for future repayment, such as "She was granted credit for her good payment history." It is also commonly used in contexts of acknowledgment, as in "He received credit for his contributions to the project."

Related Terms

• Loan: An amount of money given with the expectation of repayment.
• Recognition: Acknowledgment of achievement or contribution.
• Debt: Money owed by one party to another.

Detailed Definitions

Noun

• Trust allowing deferred payment: Refers to an arrangement where goods or services are provided with an understanding of future payment.
  • Example: "The store extended credit to its long-term customers."
• Acknowledgment of contribution: Describes a form of recognition for someone's role or achievement.
  • Example: "She received credit for her innovative ideas."
• An amount recorded on the positive side of an account: Refers to a financial entry reflecting income or reduction of debt.
  • Example: "The refund was recorded as a credit on the account."

Verb

• To assign acknowledgment or recognition: Indicates giving acknowledgment to someone for their work or achievement.
  • Example: "The researcher was credited with the discovery."
• To record a financial transaction on the credit side: Refers to adding a positive entry to an account balance.
  • Example: "The bank credited her account with the interest earned."