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credit (n.)

1540s, "belief, faith," from French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," neuter past participle of credere "to trust, entrust, believe" (see credo).

The commercial sense of "confidence in the ability and intention of a purchaser or borrower to make payment at some future time" was in English by 1570s (creditor is mid-15c.); hence "sum placed at a person's disposal" by a bank, etc., 1660s. From 1580s as "one who or that which brings honor or reputation to." Meaning "honor, acknowledgment of merit," is from c. 1600.

Academic sense of "point awarded for completing a course of study" is by 1904 (short for hour of credit (1892), given for satisfactory completion of one lecture, etc., a week, usually one hour in length). Movie/broadcasting sense "acknowledgement and naming of the individual contributors" (in plural, credits) is by 1914.

Credit rating is from 1958; credit union "cooperative banking society" is 1881, American English.

credit (v.)

1540s, "to believe, be sure of the truth of," from credit (n.). In a looser sense, "to attribute, give as the cause of," 1850. Meaning "to enter upon the credit side of an account" is from 1680s. Related: Credited; crediting.

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Definitions of credit from WordNet
1
credit (n.)
approval;
he was given credit for his work
give her credit for trying
Synonyms: recognition
credit (n.)
money available for a client to borrow;
credit (n.)
an accounting entry acknowledging income or capital items;
Synonyms: credit entry
credit (n.)
used in the phrase `to your credit' in order to indicate an achievement deserving praise;
she already had several performances to her credit
credit (n.)
arrangement for deferred payment for goods and services;
Synonyms: deferred payment
credit (n.)
recognition by a college or university that a course of studies has been successfully completed; typically measured in semester hours;
Synonyms: course credit
credit (n.)
a short note recognizing a source of information or of a quoted passage;
credit (n.)
an entry on a list of persons who contributed to a film or written work;
the credits were given at the end of the film
credit (n.)
an estimate, based on previous dealings, of a person's or an organization's ability to fulfill their financial commitments;
Synonyms: credit rating
2
credit (v.)
give someone credit for something;
We credited her for saving our jobs
credit (v.)
ascribe an achievement to;
She was not properly credited in the program
Synonyms: accredit
credit (v.)
accounting: enter as credit;
We credit your account with $100
credit (v.)
have trust in; trust in the truth or veracity of;
From wordnet.princeton.edu