What is the meaning of Credit? Concept and Definition of Credit

Definition, Concept, Meaning, What is Credit

1. Concept of credit

The word credit originates in the latin "credere" verb, and means believing. The Latin noun is "credititus". From there than something credited somewhat credible. For example when we say "his words are worthy of credit" or "the titles that has give credit their knowledge of the subject", or "its punctuality makes it to earn the credit of confidence".
In terms of personal rights, the credit is the possibility that has the active subject called creditor of the relationship obligacional, sue the debtor due delivery. Access to credit is to receive for part a person, under the reliability that credited with their income, a loan for a fixed period, paying principal and interest.
The title credit is what makes it possible to certify the existence of the debt. Credit cards are issued by banks or other financial institutions authorised and allow purchases financed, up to a certain amount, and pay for them, in full or in installments, or make a minimum payment, through a monthly summary.
Mortgage loans are those where the loan is granted in Exchange for a guarantee in real estate.
Tax credit is having the taxpayer against the State, generated by paying more, or be able to deduce certain concepts of their tax burdens.
Credits are also called to points that accumulate to get a prize or achievement. It is used in universities, in games, in the shops as a stimulus to your clients or employees, etc.

2 Meaning of credit

A loan is a sum of money that is given to a person is a form of a loan, the institution which gives it u offers in full right to make it. Banks, are usually the entities that grant credits, with the purpose that the person do some investment, engaging with the institution to cancel it in a stipulated time and under the rules and conditions that this imposes, in general, consist of a fixed rate of financing which is established as a Commission. For the Bank, the credit is a product, since in addition to offering it to the public, this generates dividends which in turn stimulate the growth and development of the Bank as a company and collaborate simultaneously with the evolution of society.
Meanwhile credit cards, are also products of banks, which make the times of continuous credits to the person, i.e., with a credit card Ana can buy the portfolio that you both like, although it does not have money in their accounts, the credit card offers you a limit of available money that she can then pay. This type of instrument offer the customer convenience and economic freedom preferentially. The difference between credit and loan basically is that the loan is a fixed amount, paid established fees and interest according to the contract, credit is a term account for pay, it complies with the same conditions as a loan since the final credit is a loan, but this can vary according to the condition of payment or availability of the account which the creditor puts at your disposal.
In another vein the word credit acts as synonym of responsibility or attribution. Explain with the following example: leader Nelson Mandela is awarded full credit by concept of peace in African countries, since in the fell the responsibility in the struggle against Apartheid (the phenomenon of racial discrimination that affected South Africa in recent decades). Thanks to this, is credited to Nelson Mandela of leader of peace in the world.

3. Definition and what is credit

As we have already done on several past occasions, we return to bump us here with a masculine noun that, etymologically speaking, comes from the latin. Promptly, creditum, Guinea pig meaning drift would be a confident thing. As well, the word that gives life to the present article is none other than credit. As a first meaning, which in turn is the most commonly used in everyday language, we could say that it refers to the amount of silver provided by a bank in Exchange for guaranteeing their return and pay some price to get it. In this sense we could illustrate saying: if I want to buy an apartment, will not be one that take a credit.
Meanwhile, from the field of financial or economic activity it includes credit as confidence in the obligation that has shrunk. Or, to put it in other words and in a clear way, in the capacity of, the responsibility of any person who has been made to comply with the credit. For example, an entity gives credit to an individual of five thousand dollars; but that individual is obliged to return that sum in an amount of time, which is generally accompanied by interest. Clear, these are who assume the Bank gain that has made the loan.
But this term, like so many others of our mother tongue, is also unique in that it can be used in other areas. In fact, another of its meanings maintains that it is the acceptance of a thing as true or certain. Graphing, we could say: Nahuel was lucky to travel to Polynesia and the place seemed so heavenly that you did not give credit to what they saw their eyes.
On the other hand, it is common to be linked with the reputation, or fame or solvency. For example, going to the sports field, we could say: the Technical Director has great experience and has credit to be able to reverse the bad situation facing his team.
Credit synonyms
Let us now review the synonyms the term in question boasts: financing, down payment, mortgage, advancement, loan; guarantee, solvency, renown, fame, reputation, prestige; confidence, acceptance.