From Longman Dictionary of Contemporary Englishcreditcred‧it1 /ˈkredɪt/ ●●● S2 W2 AWL noun 1 DELAYED PAYMENTdelayed payment [uncountable]BBTPAY FOR an arrangement with a shop, bank etc that allows you to buy something and pay for it lateron credit Most new cars are bought on credit. The store agreed to let him have credit. What’s the credit limit on your Visa card?2 praise [uncountable]PRAISE approval or praise that you give to someone for something they have donecredit for Credit for this win goes to everybody in the team. They never give Gene any credit for all the extra work he does.take/claim/deserve etc (the) credit She deserves credit for trying her best.to somebody’s credit (=used to say that someone has done something good) To Jamie’s credit, he remained calm. Credit must go to Fiona for making sure everything ran smoothly.3 → be a credit to somebody/something4 → have something to your credit5 → in credit6 → the credits7 → on the credit side8 → (give) credit where credit is due9 universityUNIVERSITY [countable]SEC a successfully completed part of a course at a university or college I don’t have enough credits to graduate.10 amount of money [countable] an amount of money that is put into someone’s bank account or added to another amount OPP debit The company promised to provide credits to customers who had been charged too much.11 true/correctTRUE/CORRECT [uncountable]TRUE the belief that something is true or correct The witness’s story gained credit with the jury.COLLOCATIONSverbsbuy/get something on creditThey bought all their furniture on credit.use creditThe survey showed only 15% of people had never used credit.get/obtain credit (=be allowed to buy something on credit)The economic situation is making it more difficult for people to get credit.give/offer credit (=allow customers to buy things on credit)A business may lose customers if it does not give credit.refuse somebody creditYou may be refused credit if you have a bad financial record.credit + NOUNa credit card (=a plastic card that you use to buy things and pay for them later)Can I pay by credit card?credit facilities (=the opportunity to buy something on credit)Credit facilities are available if you are over 18.a credit agreement (=an arrangement to allow or receive credit)People sometimes sign credit agreements and then realize they can’t afford the payments.credit terms (=how much you must pay back and when)The credit terms were a deposit of £1,000 and two later instalments of £900.somebody’s credit rating (=how likely a bank etc thinks someone is to pay their debts)If you have a poor credit rating, you will have a hard time getting a mortgage.a credit risk (=a risk that a bank etc may not get back the money it lends)Banks first have to assess whether a borrower is a credit risk.a credit limit (=the most someone can spend using credit)I have a Visa card with a £1,000 credit limit.a credit crunch/squeeze (=a situation in which people are not allowed as much credit as before)Due to a credit squeeze, interest rates rose.ADJECTIVES/NOUN + creditconsumer credit (=the amount of credit used by consumers)Consumer credit has risen substantially during this period.interest-free credit (=with no interest added to it)We offer interest-free credit for up to 50 weeks.
Examples from the Corpuscredit• One of the biggest obstacles, the respondents noted, is securing the capital and credit needed to open and expand.• The big bookies' credit office phone lines were red hot.• Figures from consumer credit group, Infolink, confirmed government findings.• So far building society inroads into consumer credit have been small.• You collect interest of 1.13% a month when you're in credit.• The tax credit will be $ 6,000 for adoptions involving children with special needs.• Shop on the Sabbath-but remember thy credit limit, and keep it holy. 14.on credit• We bought a new stove on credit.credit for• The credit for the team's winning season goes to the coach. creditcredit2 ●○○ AWL verb [transitive] 1 BFBto add money to a bank account OPP debitcredit to The cheque has been credited to your account.credit with For some reason my account’s been credited with an extra $76.2 → credit somebody with (doing) something3 → be credited to somebody/something4 BELIEVE formal to believe that something is truedifficult/hard/impossible etc to credit We found his statement hard to credit.→ See Verb table
Examples from the Corpuscredit• His statements are hard to credit.• Soon the Towel was credited for everything.• Leiser credits Franz Liszt with bringing him to San Diego.• Today I credit one of them, at least, with keeping her alive through hard times.• He was credited with a safety and also a 60-yard fumble return for a touchdown...• No more than five candidates could be credited with more than 41,667 votes each.credit to• The check has been credited to your account.difficult/hard/impossible etc to credit• During the course of the next few months I uncovered a tale of wickedness and depravity hard to credit.• Official figures are hard to credit as families fail to claim benefit.• At first, I found it hard to credit such an error to my father.• At the end of that time the conscientious manager may well find it difficult to credit the evidence.• In fact, however, it is astonishingly hard to credit them with much work that deserves to be called mathematical.• If he had any lingering memories, which was almost impossible to credit, they would not match what he now encountered.From Longman Business Dictionarycreditcred‧it1 /ˈkredɪt/ noun1[uncountable]COMMERCE an arrangement with a shop, supplier etc to buy something now and pay for it laterThey are saving for new furniture - instead of buying on credit.Sales were helped by the introduction of interest-free credit.2[countable, uncountable] an amount by which a payment is reduced, relating for example to goods you have returnedYou can return the product within 30 days and get full credit toward the purchase of another. → see also letter of credit3the credit side [uncountable]ACCOUNTING the right-hand side of each account in DOUBLE-ENTRY BOOKKEEPING, the side used for increases in LIABILITIES (=the amount of debt that must be paid) or REVENUEsEvery time an entry is made on the debit side, another entry of equal value must be made on the credit side somewhere in the books.4in credit British EnglishBANKING if you are in credit, you have money in your bank account; be in the blackThere are no bank charges if you stay in credit.5[uncountable]BANKING another name for CREDIT HISTORYIf your credit is good and you drive less than 15,000 miles a year, you should consider leasing your car rather than buying one.6 (also bank credit) [countable, uncountable]BANKING an arrangement with a bank for a loan, or bank lending in generalThe company is to get an additional $225 million in credit with no strings attached.In the economic recovery, bank credit is absolutely critical, particularly for small businesses.The bank said it would continue to extend credit (=make loans available) to the publishing group to keep it in business.7[countable, uncountable]TAX an amount of money given to you by the authorities, or an amount that you do not have to pay, which normally you would have to payThe couple may claim a credit of $800 for child care against their tax bill. → emission credit → investment tax credit → pollution credit → tax credit → see also carbon creditcreditcredit2 verb [transitive]1BANKINGto add money to a bank accountcredit toThe interest credited to the income account will be taxable. → opposite debit12ACCOUNTING to make an entry on the credit side of an account in DOUBLE-ENTRY BOOKKEEPINGOn selling an asset, any profit is credited to capital reserve or a specific asset replacement account. → opposite debit1→ See Verb tableOrigin credit1 (1500-1600) French crédit, from Italian, from Latin creditum “something given to someone to keep safe, loan”, from credere; → CREDENCE