Source : Webster's Revised Unabridged Dictionary (1913)

Credit \Cred"it\ (kr[e^]d"[i^]t), v. t. [imp. & p. p.
   {Credited}; p. pr. & vb. n. {Crediting}.]
   1. To confide in the truth of; to give credence to; to put
      trust in; to believe.

            How shall they credit A poor unlearned virgin?
                                                  --Shak.

   2. To bring honor or repute upon; to do credit to; to raise
      the estimation of.

            You credit the church as much by your government as
            you did the school formerly by your wit. --South.

   3. (Bookkeeping) To enter upon the credit side of an account;
      to give credit for; as, to credit the amount paid; to set
      to the credit of; as, to credit a man with the interest
      paid on a bond.

   {To credit with}, to give credit for; to assign as justly due
      to any one.

            Crove, Helmholtz, and Meyer, are more than any
            others to be credited with the clear enunciation of
            this doctrine.                        --Newman.

Credit \Cred"it\ (kr[e^]d"[i^]t), n. [F. cr['e]dit (cf. It.
   credito), L. creditum loan, prop. neut. of creditus, p. p. of
   credere to trust, loan, believe. See {Creed}.]
   1. Reliance on the truth of something said or done; belief;
      faith; trust; confidence.

            When Jonathan and the people heard these words they
            gave no credit unto them, nor received them. --1
                                                  Macc. x. 46.

   2. Reputation derived from the confidence of others; esteem;
      honor; good name; estimation.

            John Gilpin was a citizen Of credit and renown.
                                                  --Cowper.

   3. A ground of, or title to, belief or confidence; authority
      derived from character or reputation.

            The things which we properly believe, be only such
            as are received on the credit of divine testimony.
                                                  --Hooker.

   4. That which tends to procure, or add to, reputation or
      esteem; an honor.

            I published, because I was told I might please such
            as it was a credit to please.         --Pope.

   5. Influence derived from the good opinion, confidence, or
      favor of others; interest.

            Having credit enough with his master to provide for
            his own interest.                     --Clarendon.

   6. (Com.) Trust given or received; expectation of future
      playment for property transferred, or of fulfillment or
      promises given; mercantile reputation entitling one to be
      trusted; -- applied to individuals, corporations,
      communities, or nations; as, to buy goods on credit.

            Credit is nothing but the expectation of money,
            within some limited time.             --Locke.

   7. The time given for payment for lands or goods sold on
      trust; as, a long credit or a short credit.

   8. (Bookkeeping) The side of an account on which are entered
      all items reckoned as values received from the party or
      the category named at the head of the account; also, any
      one, or the sum, of these items; -- the opposite of
      {debit}; as, this sum is carried to one's credit, and that
      to his debit; A has several credits on the books of B.

   {Bank credit}, or {Cash credit}. See under {Cash}.

   {Bill of credit}. See under {Bill}.

   {Letter of credit}, a letter or notification addressed by a
      banker to his correspondent, informing him that the person
      named therein is entitled to draw a certain sum of money;
      when addressed to several different correspondents, or
      when the money can be drawn in fractional sums in several
      different places, it is called a {circular letter of
      credit}.

   {Public credit}.
      (a) The reputation of, or general confidence in, the
          ability or readiness of a government to fulfill its
          pecuniary engagements.
      (b) The ability and fidelity of merchants or others who
          owe largely in a community.

                He touched the dead corpse of Public Credit, and
                it sprung upon its feet.          --D. Webster.

Source : WordNet®

credit
     n 1: approval; "give her recognition for trying"; "he was given
          credit for his work"; "give her credit for trying"; "the
          credits were given at the end of the film" [syn: {recognition}]
     2: money available for a client to borrow
     3: an accounting entry acknowledging income or capital items
        [syn: {credit entry}] [ant: {debit}]
     4: used in the phrase `to your credit' in order to indicate an
        achievement deserving praise; "she already had several
        performances to her credit";
     5: arrangement for deferred payment for goods and services
        [syn: {deferred payment}] [ant: {cash}]
     6: recognition by a college or university that a course of
        studies has been successfully completed; typically
        measured in semester hours [syn: {course credit}]
     7: a short note recognizing a source of information or of a
        quoted passage; "the student's essay failed to list
        several important citations"; "the acknowledgments are
        usually printed at the front of a book"; "the article
        includes mention of similar clinical cases" [syn: {citation},
         {acknowledgment}, {reference}, {mention}, {quotation}]
     8: an entry on a list of persons who contributed to a film or
        written work

credit
     v 1: give someone credit for something; "We credited her for
          saving our jobs"
     2: give credit for; "She was not properly credited in the
        program" [syn: {accredit}]
     3: accounting: enter as credit; "We credit your account with
        $100" [ant: {debit}]
     4: have trust in; trust in the truth or veracity of