ETYM French crédit (cf. Italian credito), Latin creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. Related to Creed.
In education, a system of evaluating courses so that a partial qualification or unit from one institution is accepted by another on transfer to complete a course. At US universities and colleges, the term also refers to the number of units given upon successful completion of a course.
Credit transferability is common in higher education in the US, and is just beginning to be developed between institutions in the UK.1. An accounting entry acknowledging income or capital items; SYN. credit entry.
2. An entry on a list of persons who contributed to a film or written work.
3. Arrangement for deferred payment for goods and services; SYN. deferred payment.
4. Educational recognition that a course of studies has been successfully completed; SYN. course credit.
5. Money available for a client to borrow.
6. Used in the phrase to indicate an achievement deserving praise.
In economics, a means by which goods or services are obtained without immediate payment, usually by agreeing to pay interest. The three main forms are consumer credit (usually extended to individuals by retailers), bank credit (such as overdrafts or personal loans), and trade credit (common in the commercial world both within countries and internationally).
Consumer credit is increasingly used to pay for goods. In the US 1992 it amounted to $792 billion, with about 18.5% of disposable income expended on installment buying and credit-card payments.
1. To enter as credit, in accounting.
2. To give someone credit for something.
3. To have trust in; trust in the truth or veracity of.