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Credit

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Credit

1. An agreement between a buyer and a seller in which the buyer receives the good or service in advance and makes payment later, often over time and usually with interest. For example, a buyer may purchase a computer on credit for $600 and pay $100 per month over several months with interest. One of the most common ways of buying on credit is to use a credit card, but many companies have their own credit schemes. A steady flow of credit in an economy is considered important for financial health. See also: Accounts receivable, Accounts payable.

2. The amount in a bank account or some other account. For example, if one has $800 in his/her bank, he/she is said to have an $800 credit. Likewise, if he/she receives a check for another $200, he/she receives a further $200 credit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

credit

1. The ability to borrow or to purchase goods and services with payment delayed beyond delivery.
2. An accounting entry resulting in an increase in liabilities or owners' equity or in a decrease in assets. Compare debit.
3. The balance in an account.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Credit.

Credit generally refers to the ability of a person or organization to borrow money, as well as the arrangements that are made for repaying the loan and the terms of the repayment schedule.

If you are well qualified to obtain a loan, you are said to be credit-worthy.

Credit is also used to mean positive cash entries in an account. For example, your bank account may be credited with interest. In this sense, a credit is the opposite of a debit, which means money is taken from your account.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

credit

  1. a financial facility which enables a person or business to borrow MONEY to purchase (i.e. take immediate possession of) products, raw materials and components, etc. and to pay for them over an extended time period. Credit facilities come in a variety of forms including BANK LOANS and OVERDRAFTS, INSTALMENT CREDIT, CREDIT CARDS and TRADE CREDIT. Interest charges on credit may be fixed or variable according to the type of facilities offered or, in some cases, loans may be interest-free as a means of stimulating business. See CREDIT CONTROL, MONETARY POLICY, EXPORTING, LETTER OF CREDIT, BILL OF EXCHANGE, CONSUMER CREDIT ACT 1974, INTEREST RATE.
  2. to acknowledge (in DOUBLE-ENTRY ACCOUNTS) the receipt of services rendered to a firm. This is done by making an accounting entry which records the value of goods or services received by the company in the company's account of the supplier of the goods or services. A credit entry in a company's double entry accounts represents either a decrease in the company's assets or an increase in its liabilities. See DEBIT.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

credit

a financial facility that enables a person or business to borrow MONEY to purchase (i.e. take immediate possession of) products, raw materials and components, etc., and to pay for them over an extended time period. Credit facilities come in a variety of forms, including BANK LOANS and OVERDRAFTS, INSTALMENT CREDIT, CREDIT CARDS and TRADE CREDIT. Interest charges on credit may be fixed or variable according to the type of facilities offered or, in some cases, ‘interest-free’ as a means of stimulating business.

In many countries CREDIT CONTROLS are used as an instrument of MONETARY POLICY, with the authorities controlling both the availability and terms of credit transactions. See CONSUMER CREDIT ACT 1974, INTEREST RATE.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

credit

(1) In finance,the availability of money.(2) In accounting, a liability or equity entered on the right side of the page in double-entry accounting. The concept is confusing to most consumers because an accounting “credit” does not mean more “stuff” such as property or money; it merely indicates the side of the page on which the entry is posted.The other entry is called a debit.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Summing up the health of the company, chief executive John Coleman said: "Our business has traded creditably so far this year, in a very tough environment.
Amidst this, the Minister of Niger-Delta and the Minister of States of Niger-Delta have performed creditably well on developmental projects, despite the meager 13 per cent derivation fund accruable to these region.
Department store group House of Fraser said today it had traded "creditably" in the first 20 weeks of its financial year, with like-for-like sales up 0.6pc.
Earlier, Gracemount appeals in the Follow BetVictor Racing Mares Beginners Chase, having run creditably last time in the beginners won by Monday's Burrows Saint in Gowran Park.
Whether you are an elected chairman or a caretaker chairman, it is a call to serve and if you heed the call and you discharge your duties creditably, then people at the grassroots will feel the impact of government.
Unraced as a juvenile, Voodoo Prince landed a 1m maiden at Haydock last summer and went on to perform creditably in handicaps, including when third to the prolific winner William Haigh when last seen at Wolverhampton last November.
The mare has useful bumper form, having won at Newcastle on her debut in January and run creditably in much better company, and is bred to excel over jumps.
She has rarely won a floor event at the top level, simply because a girl has to be almost waif-like to succeed, but performed very creditably this time to finish fifth with a total of 9.
Last year's runner-up Charlie Parkes and the speedy Tommy Smith have also plenty to recommend them, but Absent Friends, though running creditably at the moment, may be a shade too high in the ratings.
Successful at Wexford in October and impressive conqueror of Miss Eyecatcher, right, in Clonmel, she ran creditably when beaten less than 10 lengths in fourth spot behind stable-companion Death Duty in the Drinmore at Fairyhouse.
Lambourn Rodney Masters, who napped 20-1 winner Ixora at Ffos Las yesterday Opera Gal (6.50 Newcastle, nap) Andrew Balding's admirably consistent filly has been running creditably on ground quicker than ideal.
Roger Ingram's course winner has run creditably in better company recently and can make full use of his inside-rail draw in this big field.