Good Quality image / or Tom maybe

What is the meaning of credit? In the dictionary credit is described as:

  • A reliance or belief in the truth of something. (being credible)
  • A reputation for sound character or quality; standing.
  • A reputation for solvency and integrity entitling a person to be trusted in buying or borrowing. Solvency is being capable of meeting financial obligations.
  • Time given for payment for goods or services sold on trust.

It's interesting that the first two definitions have little to do with money, but everything to do with character. This may be because one of the few things you actually own in life is your reputation. If your reputation in life is poor, you are perceived as having poor character. Your peers may not respect you very much, which will inhibit your chances for social growth. The financial world works the same way. If you have a poor credit reputation you will be charged higher interest rates, which will inhibit your chances for future financial growth.