From The Collaborative International Dictionary of English v.0.48:

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.
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            When Jonathan and the people heard these words they
            gave no credit unto them, nor received them. --1
                                                  Macc. x. 46.
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   2. Reputation derived from the confidence of others; esteem;
      honor; good name; estimation.
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            John Gilpin was a citizen
            Of credit and renown.                 --Cowper.
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   3. A ground of, or title to, belief or confidence; authority
      derived from character or reputation.
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            The things which we properly believe, be only such
            as are received on the credit of divine testimony.
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   4. That which tends to procure, or add to, reputation or
      esteem; an honor.
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            I published, because I was told I might please such
            as it was a credit to please.         --Pope.
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   5. Influence derived from the good opinion, confidence, or
      favor of others; interest.
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            Having credit enough with his master to provide for
            his own interest.                     --Clarendon.
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   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.
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            Credit is nothing but the expectation of money,
            within some limited time.             --Locke.
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   7. The time given for payment for lands or goods sold on
      trust; as, a long credit or a short credit.
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   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.
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   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

   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.
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                He touched the dead corpse of Public Credit, and
                it sprung upon its feet.          --D. Webster.
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From The Collaborative International Dictionary of English v.0.48:

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.
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            How shall they credit
            A poor unlearned virgin?              --Shak.
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   2. To bring honor or repute upon; to do credit to; to raise
      the estimation of.
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            You credit the church as much by your government as
            you did the school formerly by your wit. --South.
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   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.
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   To credit with, to give credit for; to assign as justly due
      to any one.
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            Crove, Helmholtz, and Meyer, are more than any
            others to be credited with the clear enunciation of
            this doctrine.                        --Newman.
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