The term "new credit" refers to a person's or entity's recent credit history, which includes any new loans, lines of credit, or other forms of debt that have been taken on recently. This information is typically used by lenders and creditors to assess an individual's or businesses ability to repay their debts in a timely manner. A person with "new credit" may be considered a higher risk for defaulting on payments, as they do not have a long established history of making regular payments. However, it also means that the person has recently shown an ability and willingness to take on new debt obligations.