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English definition of “credit”

credit

noun (MONEY)    /ˈkred.ɪt/
B1 [U] a method of paying for goods or services at a later time, usually paying interest as well as the original money: They decided to buy the car on credit. The shop was offering six months' (interest-free) credit on electrical goods. → Compare debit nounBorrowing, lending and debtPaying and spending money B1 [C or U] money in your bank account: I was relieved to see from my statement that my account was in credit.Profits and losses
(Definition of credit noun (MONEY) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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