​CREDIT (Lat. credere, to believe), in a general sense, belief or trust. The word is used also to express the repute which a person has, or the estimation in which he is held. In a commercial sense credit is the promise to pay at a future time for valuable consideration in the present: hence, a reputation of solvency and ability to make such payments is also termed credit. In book-keeping credit is the side of the account on which payments are entered; hence, sometimes, the payments themselves.