BNET Business Dictionary
Business Definition for: Credit
- the amount of money left over when an individual or organization has more assets than liabilities, and those liabilities are subtracted from the total of the assets
- the trust that a lender has in a borrower's ability to repay a loan, or a loan itself
- a financial arrangement between the vendor and the purchaser of a good or service by which the purchaser may buy what he or she requires, but pay for it at a later date
Wiktionary Definition for: Credit
- To believe.
- Ex: ''Someone said there had been over 100,000 people there, but I can't '''credit''' that.''
- (''accounting'') To add to an account (confer debit.)
- Ex: '''''Credit''' accounts receivable with the amount of the invoice.''
- Ex: ''For the payroll period '''credit''' employees' tips to their wages paid account and debit their minimum wage payable account.''
- Ex: ''The full amount of the purchase has been '''credited''' to your account.''
- To acknowledge a contribution.
- Ex: ''I '''credit''' the town council with restoring the shopping district.''
- Ex: '''''Credit''' the point guard with another assist.''
- uncountable : Recognition and respect.
- Ex: ''I give you '''credit''' for owning up to your mistake.''
- (''accounting'') An amount added to an account (confer debit.)
- (''tax accounting'') A reduction in taxes owed, or a refund for excess taxes paid.
- Ex: ''Didn't you know that the IRS will refund any excess payroll taxes that you paid if you use the 45(B) general business '''credit'''?''
- A valuable member.
- Ex: ''That point guard is a '''credit''' to the team.''
- (''finance'') The ability to borrow funds.
- Ex: ''In view of your payment record, we are happy to extend further '''credit''' to you.''
- One's credit rating.
- Ex: ''What do you mean my '''credit''' is no good?''
- A fictitious unit of currency often used in science fiction.
- Ex: ''To repair your star cruiser will cost 100,000 '''credits'''.''
- (''video gaming, pinball'') A game earned or paid for but yet to be played.
- Ex: ''Would you like to play? I put in a dollar and I've got two '''credits''' left.''
Additional Resources
- College Kids and Credit Cards: What Every Parent Needs to Know
- The plastic providers have one more chance to lure in college students before next year's law prevents them. Here's how to make your kid "card smart." The era of “No Student Left Behind: Credit Card Edition” will come to an end early next year, thanks to the new credit...
- Articles 2009-09-10
- Small Business Alert: How to Survive If You Lose Credit
- Credit card companies and banks are cutting back drastically on loans and credit lines. Here's what to do if your cash flow gets squeezed. Don’t Just Accept Credit Changes as Final ...
- Articles 2009-06-11
- Beat Tough Credit Card Terms
- Card companies are raising rates, lowering credit limits, and boosting minimum payments. Here's how to get your mind off of the punishing terms — or at least handle the changes if you're stuck with your card... You probably don't spend as much on your credit card as you...
- Articles 2009-04-14
- Credit Quandary - How Much Credit Should Creditors Give You?
- Karen King owes $36,000. According to the Wall Street Journal, The amount of credit card debt King is carrying is more than she has ever earned in a year. "Years ago, I lived for now. It was so stupid," the 28-year-old says. "It's depressing, but I can't live that...
- Blog posts 2009-10-13
- Can Sen. Johnny Isakson Save The $8,000 Tax Credit?
- The good news in the real estate market (or what's passing for good news lately) seems to be working against Sen. Johnny Isakson's (R-Ga) quest to extend and expand the $8,000 first time home buyer tax credit. Let's start with a short review of where we've been:...
- Blog posts 2009-10-14
- Home Buyer Tax Credit: How to Cash In
- The new extension of the home-buyer tax credit gives buyers more time and more opportunity to take advantage. Income limits have changed, for instance, and you no longer have to be a first-time home buyer. Here?s how to grab the newly expanded tax break. Here’s what you need to...
- Articles 2009-11-09
- Credit Cards Ready for Reform? Some Lawmakers Think So
- While most of Washington’s attention is on mopping up the home mortgage mess, federal lawmakers are also launching another heavy-duty cleaning job -- reforming the credit card industry. As you’d expect, the bank and credit card issuers, such as Visa and MasterCard, aren’t happy about this attention...
- Blog posts 2008-09-10
- $15,000 Tax Credit Is Too Rich, So How About A $10,000 Tax Credit For All Home Buyers?
- It looks like the $15,000 tax credit for all home buyers, even millionaires, is dead in the water. But don't count Sen. Johnny Isakson (R-GA) out just yet. In a phone call this morning, he laid out plans for a $10,000 tax credit...
- Blog posts 2009-09-29
- Best Credit Cards for You
- Card companies are getting shadier and stingier, and interest rates on plastic are going higher. So now?s the time to be sure you?re holding the best cards for the way you charge. MoneyWatch surveyed the landscape and picked the top cards in several categories. ...
- Articles 2009-10-30
- Credit Cards: How to Get the Last Great Deals
- Issuers are now approving few new customers and charging steep rates with low credit limits. So say goodbye to those 3.99 percent teaser offers and zero percent balance transfers. “These days, you should not expect to get a $20,000 credit line right off...
- Articles 2009-07-07
- Does the $8,000 First-Time Home Buyer Tax Credit Discriminate?
- Does the $8,000 first-time home buyer tax credit discriminate based on income? One MoneyWatch.com reader thinks so.  Ann sent me the following email: Is there any avenue to file a complaint against the government for discrimination related the $8,000 new home buyer tax credit? The complaint is based on income...
- Blog posts 2009-09-21
- US consumers to benefit as credit card law debuts
- By Juan Lagorio of Reuters NEW YORK - US consumers will see the first signs of the biggest overhaul of the credit card industry in at least two decades, as companies will be forced to provide customers with more time to pay their bills and be required to give more...
- News items 2009-08-19
- Did MBAs Contribute to the Credit Crisis?
- Did MBAs Contribute to the Credit Crisis?RE: Did MBAs Contribute to the Credit Crisis?As one who completed an MBA, they fail to teach critical thought. They all use the same text books etc and when you question their assumptions, you are criticised. Group think is alive and well...
- Discussion threads 2008-10-30
- Credit Card Reform Won't Pay Down Consumer Debt
- Starting today, the nation's banks must comply with the Credit Card Act of 2009. Although most of the legislation's key provisions will not take effect until February 2010, credit card companies must immediately begin to mail bills at least 21 days before their due dates and provide at least 45...
- Blog posts 2009-08-20
- Credit Card Firms Tug On Customers' Leashes
- The ubiquitous credit card industry is getting squeezed by the country's economic pinch. Purveyors of plastic are tightening lending standards by lowering borrowing limits, raising interest rates, discouraging rolling over balances and boosting fee penalties on late payments. They're also diligently monitoring customer credit...
- Blog posts 2008-10-20
- 7 Drug Companies Explain How They Dodged (or Didn't) the Credit Crisis
- Drug companies have been the eye of the storm in the recent liquidity crash. High profitability, high cashflow (and making products that people literally can't live without) have left them in a comfortable economic position compared to other consumer-oriented companies. Here’s a selection from recent earnings calls...
- Blog posts 2008-10-22
- Should Congress Extend the Tax Credit for Home Buyers?
- Congress is currently debating two bills that would extend the life of the $8,000 tax credit for first-time home buyers, which expires December 1. Is this a good idea? The answer recalls the joke about putting two economists in a room with a problem and getting three answers. ...
- Blog posts 2009-10-15
- $8,000 Tax Credit Extension? White House Says Maybe.
- White House officials said today that they aren't totally sold on the proposals floating about to extend and expand the current $8,000 first-time home buyer tax credit. Shaun Donovan, Secretary of the Department of Housing and Urban Development HUD, told the Senate Banking Committee this morning that...
- Blog posts 2009-10-20
- GM, Chrysler expand credit union loan deals
- NEW YORK ? Automakers General Motors Corp. and Chrysler LLC, along with a group of credit unions, said today that they are expanding to all 50 states programs that offer low-cost loans and special pricing incentives to credit union members. David Adams, president and chief executive of the Michigan Credit...
- News items 2009-08-07
- Repair your credit
- Improving or repairing your credit is a process that focuses on improving lenders' perceptions of you as a credit risk. Your credit score is an important component in shaping those decisions. By taking steps to improve your credit score, you can improve your creditworthiness. When you review your credit score,...
- White papers 2003-09-08
