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Credit

English translation: see explanation

03:44 Jun 6, 2019
English language (monolingual) [Non-PRO]
Bus/Financial - Law (general)
English term or phrase: Credit
what does "credit“ really mean in ”your applications for new credit“？

I found it when I read this page:

https://blog.credit.com/2015/09/how-often-can-i-apply-for-ne...

How Much Is Too Much?
Since I have a long credit history, opening up one or two credit card accounts in a three-month period will have a small effect on my score that is easily manageable, so long as I am not applying for other forms of credit at the same time. How does that work? It’s important to remember that your applications for new credit make up only 10% of your credit score, which is a relatively small portion compared to your payment history (35%), and your amounts owed (30%). So as I like to say and do: Pay all your bills on time, and carry very little debt, and it will be very hard not to have excellent credit.
jyuan_us
United States
Local time: 06:17
Selected answer:see explanation
Explanation:
Credit has two different meanings in the text quoted:
1) "your applications for new CREDIT" = loans
2) "it will be very hard not to have excellent CREDIT" = credit score
Selected response from:

Mark Robertson
Local time: 11:17
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
5 +4loans
philgoddard
5 +4see explanation
Mark Robertson
5 +1credit score
Marco Belcastro Bara


  

Answers


21 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
credit
credit score


Explanation:
Your credit score has to be above a certain minimum number for you to be eligible to different kind of financial loans or credit cards (things of a financial
nature)

Marco Belcastro Bara
Italy
Local time: 12:17
Specializes in field
Native speaker of: Native in ItalianItalian

Peer comments on this answer (and responses from the answerer)
neutral  Tony M: Although this text is talking all about 'credit score', that's not actually the meaning given to 'credit' here — neither is it terribly helpful to Asker to use the same word to explain it!
2 hrs
  -> The answer makes perfect sense because it takes a SCORE to determine an individual's ability to obtain Loans/Cards/Credit in the USA. The word CREDIT in a new application refers to historical scores. Hence my answer.
disagree  Yvonne Gallagher: "application for new credit" does NOT mean credit score (in any jurisdiction)and with Tony re using the same term in explanation//I suggest you read the sentence in question several times as you haven't understoood the English
4 hrs
  -> I'm AMERICAN born and raised. English is my 1st and only language. I'm Marco's wife and helping him. I also have a license to practice Loans in CA so I can definitely say I'm 100% qualified and completely understand the original question and context.
agree  Liane Lazoski
5 hrs
  -> Thank You :)
agree  Charlesp
11 hrs
  -> Thank you :)
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2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
credit
loans


Explanation:
Definitions 2b and 2c.
http://www.merriam-webster.com/dictionary/credit

philgoddard
United States
Specializes in field
Native speaker of: English
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
agree  Tony M
49 mins
agree  Jennifer Caisley
1 hr
agree  Charlesp
9 hrs
agree  Yvonne Gallagher
1 day 4 hrs
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3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
credit
see explanation


Explanation:
Credit has two different meanings in the text quoted:
1) "your applications for new CREDIT" = loans
2) "it will be very hard not to have excellent CREDIT" = credit score

Mark Robertson
Local time: 11:17
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 56
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Jennifer Caisley
27 mins
  -> Thank you
agree  Mark Nathan
1 hr
  -> Thank you
neutral  Yvonne Gallagher: Asker only asked about no 1
2 hrs
  -> You are right. However, I merely answered the question and provided further information as the use of the same word but with different meanings, was at the source of the query..
neutral  philgoddard: As Yvonne says, this was not the question.
5 hrs
  -> Hi Phil, See my reply to Yvonne.
agree  Tina Vonhof (X): Credit has other meanings than just those two. Line 1 in this text clearly states 'applying for credit card accounts', not loans. Loans or a line of credit could fall under 'other forms of credit'.
7 hrs
agree  Charlesp
8 hrs
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