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verb. uk / ˈkred.ɪt / us / ˈkred.ɪt / credit verb (PAY) [ T ] to pay money into a bank account: credit something with something They credited my account with $20 after I pointed out the mistake. Fewer examples. They've credited my account with another £100. We'll credit you with the remaining amount next week.
Credited is a versatile word that can be used in various grammatical contexts. Understanding the correct usage of credited is essential for effective communication. In this section, we will explore the grammatical rules surrounding credited and discuss the different parts of speech it can take on.
Jan 25, 2022 · The definition of credit is the ability to borrow money with the promise that you'll repay it in the future, often with interest. You might need credit to purchase a product or use a service...
give credit for or to: [~ + object + to/with + object] He credited $50 to my account. Idioms [ do + object + ~ ] Your passing the test under such difficult circumstances does you credit.
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- What Is Credit?
- Credit in Lending and Borrowing
- Other Definitions of Credit
- The Bottom Line
The word "credit" has many meanings in the financial world, but it most commonly refers to a contractual agreement in which a borrower receives a sum of money or something else of value and commits to repaying the lender at a later date, typically with interest. Credit can also refer to the creditworthiness or credit historyof an individual or a co...
Credit represents an agreement between a creditor (lender) and a borrower (debtor). The debtor promises to repay the lender, often with interest, or risk financial or legal penalties. Extending credit is a practice that goes back thousands of years, to the dawn of human civilization, according to the anthropologist David Graeber in his book Debt: T...
"Credit" is also used as shorthand to describe the financial soundness of businesses or individuals. Someone who has good or excellent credit is considered less of a risk to lenders than someone with bad or poor credit. Credit scores are one way that individuals are classified in terms of risk, not only by prospective lenders but also by insurance ...
The word "credit" has multiple meanings in personal and business finance. Most often it refers to the ability to buy a good or service and pay for it at some future point. Credit may be arranged directly between a buyer and seller or with the assistance of an intermediary, such as a bank or other financial institution. Credit serves a vital purpose...
noun. us / ˈkred.ɪt / uk / ˈkred.ɪt / credit noun (PRAISE) Add to word list. B2 [ U ] praise, approval, or honor: get credit for She got no credit for solving the problem. get the credit I do the work, and you get the credit — how is that fair? take credit for Her boss took credit for it.
Mar 4, 2024 · A tax credit is a dollar-for-dollar amount taxpayers claim on their tax return to reduce the income tax they owe. Eligible taxpayers can use them to reduce their tax bill and potentially increase their refund. Refundable vs. nonrefundable tax credits. Some tax credits are refundable.
