Noun- faith, credence, trust, honor, belief.
Verb- believe, trust.
Credit means financial trustworthiness, confidence in borrowing capacity of an individual or company to obtain goods or services and intention to repay at a later date.
It is an agreement where a borrower receives something of value now and agrees to repay the lender in the future.
An individual finances something with a loan they are using credit in that situation.
Credit is the trust which allows one party to provide some things to another party where that second party does not return the first party immediately but instead arranges either to repay or return those things (or other materials of equal value) at a later date. The materials provided by the first party may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services.
