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Extension of Credit meaning

I think the phrase is indeed a bit misleading. In a general financial context, "extension" can mean additional time granted beyond the time originally agreed on. Here, however, the idea is ...
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Extension of Credit meaning

For real etymology, see our sister site, https://english.stackexchange.com/ 'Extending' is similar to 'opening' as in opening a tab. Extending credit is opening a relationship with the borrower.
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