That which tends to procure, or add to, reputation or esteem; an honor.
Influence derived from the good opinion, confidence, or favor of others; interest.
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.
The time given for payment for lands or goods sold on trust; as, a long credit or a short credit.
To confide in the truth of; to give credence to; to put trust in; to believe.
To bring honor or repute upon; to do credit to; to raise the estimation of.
A loan granted by the lender with a promise from you to repay the lender in the future in order to buy an automobile.
The receipt of money, goods, or services in exchange for a promise to repay the amount borrowed at a future date.
advance money from group to members financial service 56
Deferred payment for goods and/or services purchase d. Also, recognition of above average performance. [D02589] RMW
If you discover an error in a previous bill, you can specify a positive or negative credit. The credit can be either a number of billing units or an amount of money.
Credit is a mutual agreement between a lender and a borrower that money will be loaned and then repaid.
Money available for a client to borrow.
An amount of money that a bank or credit issuer lends to you. You can charge/spend any amount from your credit line to make purchases or to receive cash advances. As long as you pay the minimum amount due each month by the due date, you can continue to use your remaining available credit.
A loan; the use of money or spending power today, with the promise to pay for it in the future.
An agreement allowing a company or individual to purchase goods or services now and to pay at a later date.
An amount that a bank or company will let a person use. Trust given to a customer for future payment for goods purchased.
Buying goods and services with the promise to pay later.
Money, goods, or services provided with the expectation of future payment.
Granted by a borrower to a lender, with a promise of repayment in a stipulated period. Often tied to property as collateral, so if payments are not made as agreed, the collateral can be seized by the lender.
Time allowed for the payment of goods or services sold on trust as well as confidence in the buyer's ability and intention to fulfill their financial obligations.
exchange of present economic value for a promise of future economic value.
What you owe today, you have to repay it tomorrow.
The opportunity to borrow money or to receive goods or services in return for a promise to pay later.
A contractual agreement which allows a borrower to receive something of value and pay for it later
The capacity to borrow money up to a specified limit under specified conditions.
An agreement to borrow (often monetary) and pay back at a later date or over a certain period of time.
The ability of a customer to obtain goods or services before payment, based on an agreement to pay later. View LEI Lesson(s) that address this term
Ability to purchase something today with a promise to pay later.
money available as a loan.
A promise to pay a debt in the future on items or cash your want to borrow today.
Allowing immediate use of goods and service with payment deferred until an agreed future date.
The provision of funds by a lender for a promise of future payment.
The granting of money or something else of value in exchange for a promise of future repayment.
An agreement in which one entity allows another to use goods, services, or money immediately and promise to pay for them at a future date.
The smallest unit of money that can be placed as a bet.
The privilege of borrowing something now, with the agreement to pay for it later
What America thrives on! The power to obtain money, materials or services by promising to pay for them as some definite date in the future.
The giving of goods and services in return for the promise of payment at a future time. The payment usually has interest attached.
Time given for payment for services sold on trust and the demonstration of one¹s integrity, willingness and ability to meet the payments on these financial obligations.
The process of allowing a customer to purchase goods or services on the promise of future payment.
extension of money by a lending institution or investor to be repaid with interest over a period of time.
An agreement by which items such as goods, services, or money are given in exchange for a promise to pay at a later date.
It is unlawful to sell, directly or indirectly, or to sanction the sale on credit of spirituous liquor, or to give, lend, or advance money or anything of value for the purpose of purchasing spirituous liquor. ARS 4-242
Credit is your reputation for solvency and integrity that entitles you to be trusted in buying goods or borrowing money.
Legal obligation to make repayment at a later date for goods, services or money obtained through the extension of credit i.e., a promise to pay in the future. The cost of credit is usually referred to as a finance charge, interest or time-price differential.
An amount or sum of money lent by a bank or business for repayment in the future.
When you withdraw more money than you have in your account, and you therefore owe your Credit Union or bank money, you owe them credit. Most Credit Unions now offer credit cards, which are cards used to access funds which your Credit Union has lent you, with a promise that you will pay them back.
Using tomorrow's money to pay for something you get today. Credit is a promise to repay a debt for goods and services. Credit may be extended via several means, including credit cards, personal loans, car loans, and home mortgages.
A personâ€(tm)s reputation for solvency and integrity, allowing a borrower to receive something of value in exchange for a promise of repayment.
Cover can be arranged for all or selected customers and provides protection against the risk of non-payment for services and/or goods obtained under credit.
generally a money currency used at certain MMOG
Credit is the means by which consumers can get immediate benefit of goods or services upon the promise of payment at a future date.
You are taking an initial step toward establishing credit when you borrow money. Credit is a promise to pay later for goods, services, or money you receive now. Establishing good credit is important. By repaying your loans on time and making informed decisions regarding your student loan needs, you will prevent future credit difficulties.
An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date.
A contractual arrangement in which a borrower receives something of value now and promises to repay the lender at a later date.
A promise of future payment given in exchange for present delivery of money, goods or services, usually with interest, at a rate that varies with the risk involved and the reputation as a risk that a particular borrower enjoys with an actual or potential lender. See also: Bond, Bridging Credit, Demand, Interest, Mixed Credits, Purchasing Power, Risk
A means of borrowing money from a person or company and returning it at a later date, usually with accrued interest charged on top of the initial sum borrowed.
The amount of money a lender, such as a credit card provider, agrees to lend the person applying for a loan.
In business, buying or borrowing on the promise to repay at a later date. In any credit arrangement there is a creditor (a person, bank, store, or company to whom money is owed) and a debtor (the person who owes money). In bookkeeping, credit is a sum of money due to an individual or institution.
Something entrusted to another, for example, a loan; or the balance in a person's favor in an account; or an amount or sum placed at a person's disposal by a lending or financial institution; or time given for payment of goods or services sold on trust (ex. long-term credit).
the ability to borrow money from a lender; also the ability to purchase goods and pay for them later.
A term used to describe an amount of money lent by an organisation to a person.
A consumer's perceived ability to pay back borrowed money, which directly affects that person's actual ability to borrow it.
The power to obtain money, materials or service by promising to pay for them at some definite future date.
The ability of a person to borrow money, or obtain goods with payments over time, as a consequence of the favorable opinion held by a lender as to the person's financial situation and reliability.
An arrangement that allows a person to receive or enjoy cash goods or services now and pay for them in some moment in the future.
A trust or a promise to pay later for goods or services purchased today.
The exchange of something of value in exchange for a promise to repay the lender at a later date.
An amount extended by a lender at the disposal of a client, against which he may draw; it lets you obtain goods, services or money now, in exchange for the promise to pay in the future.
Money that a lender gives to a borrower on condition of repayment over a certain period.
An agreement allowing a borrower to obtain something of value, by promising to repay the lender at a later date.
(1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Credit is your right to defer payment or debt. Essentially, it's a promise to pay in the future in order to borrow in the present.
The amount of money youâ€(tm)re borrowing. Credit can be: a loan, including cash loans where youâ€(tm)re buying goods that youâ€(tm)ll pay off later using a bank or store credit card to buy goods and services.
An arrangement between lender and borrower whereby the former lends money to the borrower who agrees to pay the debt with a finance charge.
A trust or promise to buy now and pay later under designated terms for goods or services.
Credit refers to your right to defer payment or debt, or in other words, your promise to pay in the future in order to buy or borrow in the present.
Borrowed money or other finance (eg. Hire purchase) to be paid back under an arrangement with a lender.
Credit generally refers to the qualifications of a person or organization to borrow money, as well as the arrangement that's made for repaying the loan and the terms of the repayment schedule.
a loan that enables people to buy something now and to pay for it in the future.
An account that is 'in credit' means that there is some money in it that is available to be spent. If you obtain goods or services 'on credit' it means that someone (for example, a bank or credit institution) has given you the money to make the purchase - they have credited you with the money. You must pay the money back. If you do not pay your credit card on time or have a history of not paying back other loans, this will be shown on your file held by a credit reference agency. When shops or banks check your creditworthiness and see this information has been listed, you may find it very difficult to get a loan.
The ability to buy or borrow in consideration for a promised pay within a period.
A promise or trust to repay later for goods or services purchased today.
The extension of funds issued by a bank that allows a consumer to purchase goods or services from a merchant. The consumer then pays back the bank either in full or in installments, at an interest rate determined by the bank.
Money loaned. It also refers to the borrowing capacity of an individual or company.
An arrangement that allows a person to receive cash goods or services now and pay for them in the future. An arrangement for delayed payment of a loan or purchase, allowing a person to receive goods now and pay for them later.
Broadly speaking, the ability to borrow money or the ability to transact business on the promise of future payment. A person is said to have "good credit" when he can borrow money without pledging collateral. A company's credit is based on its solvency and on its past reputation for reliability in the payment of debts. There are many factors taken into account before a decision as to whether or not a "credit" is considered good or bad such as company management, cash flow, assets and liabilities.
A sum of money made available for a person’s (or a company’s) use. “His credit is good†means that a person has access to funds which enable him to pay his bills as and when they fall due. “She bought it on credit†means that the purchaser will have a sum of money available in future that will enable her to pay for the goods.
Money that you borrow and promise to pay back. Usually, when you use credit, you must also pay interest to the bank, company, or person that you borrow from, the creditor.
Allows you to buy goods and services before you pay for them.
A borrowed sum of money to be paid back (usually with interest) within an arranged time frame. A sum of money paid into an account
An agreement in which something of value (goods, services or money) is given in exchange for repayment. Repayment terms often include a fee imposed by the lender for the use of the item of value during the agreed upon term.
An obligation, or promise to pay later for money borrowed or purchases made today.
An agreement made between a borrower and a lender in which the borrower receives something of value in exchange for the promise of repayment to the lender.
An obligation or promise to pay in the future a certain amount of money.
Money available to an individual from a bank or other lending institution. The borrower may use this sum to pay for products and services but must repay (usually over time) the lending institution for that usage.
Borrowing money now with a promise to pay it back at a later time, generally with interest.
The right granted by a creditor to pay in the future in order to buy or borrow in the present; also, a sum of money owed to a person or business.
This word is used in a number of different ways. In the financial world it means the "ability to borrow money." If a salesman says you have "strong credit," that means that you should get the best interest rate a bank has to offer.
The money a lender extends to a buyer for a commitment to repay the loan within a certain time frame.
A seller's faith in a buyer's willingness and ability to pay for goods and services at a future date.
is the power to buy without money on condition that you pay later. Those using credit benefit from the immediate possession of the goods they desire; those giving credit benefit usually by charging interest on the deferred payments.
An amount of money given to another person for future payment of a loan, credit card balance, etc.
Payment of an outstanding sum of money over a period of time rather than immediately; payments may or may not include compensatory interest.
A trust or promise to buy a product/service or borrow money now and pay later under certain terms and conditions.
When you're extended credit, you promise to pay, in the future, in order to borrow today which, in effect, defers repayment of your debt.
The act of providing some goods or services and allowing them to be paid for at a later date. Note that each time you use your credit card you are being provided with credit. Depending upon the goods or services being supplied, your credit may attract an interest rate which can range from 0% (interest free) to 24% and above. This is the extra money you pay because you are taking advantage of the credit facility to pay over a certain period of time.
the agreement that a borrower will receive something of value with the promise to repay the lender with in a certain period of time.
the ability to borrow money or charge purchases to be paid in the future; also, an amount of money deposited to an account
Borrowed money to be paid back under an arrangement with a lender. Also, a sum of money paid into an account.
An arrangement between a lender and a borrower whereby a lender lends money to a borrower, and the borrower agrees to pay it back.
The ability of a person to borrow money, or buy good by paying over time. Credit is extended based on a lender's good opinion of the person's financial situation and reliability.
A promise to pay later for items purchased now.
A promise to pay at a later date for goods or services purchased today.
An agreement according to which a borrower receives something as loan and he is liable to pay a certain amount after a specified period of time.
This is the value of goods that a company will supply to a customer before payment is necessary. Credit cards have a credit limit that is the value of goods that the holder can use the card to purchase.
Credit is more than just a plastic card used to buy things. It's your financial trustworthiness. Good credit means that your history of payments, employment and salary make you a good candidate for a loan, and creditors (those who lend money or services) will be more willing to work with you. Having good credit usually translates into lower payments and more ease in borrowing money. Bad credit, however, can be a big problem. It usually results from making payments late or borrowing too much money, and it means that you might have trouble getting a car loan, a credit card, a place to live and, sometimes, a job.
Reputation for solvency and integrity entitling a person to be trusted in buying or borrowing.
The promise to defer and pay in the future in order to buy or borrow in the present.
A legal agreement in which a borrower receives something of value now by promising to pay the lender for it later. When the item of value is money, the agreement is called a loan . When the item of value is a product, the purchaser buys it "on credit." (See also finance .)
Credit allows a customer to buy now and pay later, or a seller to sell now and collect later. Purchases and sales are recorded as Accounts Payable or Accounts Receivable. These accounts usually are due 30 to 60 days from the date of the sale.
a consumer's ability to make purchases, obtain services, or borrow money based on his or her promise, ability, and demonstrated willingness ot repay.
The promise to re-pay in the future and to borrow in the present, deferrment of a debt payment.
The ability of a person to borrow money or goods based on an opinion held by lenders in reference to the person's financial situation and reliability.
The promise to pay in the future in order to buy or borrow in the present. The right to defer payment of debt.
A measurement of how trusted you are with money.
An advance of cash, merchandise or other commodity in exchange for an agreement to pay at a future date, with interest if so agreed.
Access to money or funds by a borrower on the condition of repayment to the lender over a certain period.
Any money lent through loans and bonds or money owed for the payment of goods and services.
The right granted by a creditor to pay in the future in order to buy or borrow in the present. A contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some later date.
money lent to a borrower in exchange for a commitment to repay the loan within a certain timeframe.
Money a lender extends to a borrower who gives a commitment to repay the loan within a certain amount of time.
Allowing a person or company to purchase goods or services without paying cash at the time of purchase. To Top