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"credit extended" is a correct and usable phrase in written English.
For example, you could use it in the sentence: "The bank agreed to extend the customer's credit line by $500."
Exact(60)
Initially, the credit extended is modest, only $2 to $5.
President Obama wants the credit extended, while Mitt Romney has urged that it expire as scheduled.
Much of the credit extended by banks and shadow banks to keep growth going will sour.
But the biggest card issuers reported "more marked" decreases in both total credit extended to cardholders.
The market wanted easy credit extended to all, low taxes and plenty of public spending.
More than half of credit extended to the private sector goes to 0.19 percent of bank clients.
The National Association of Realtors is lobbying to have the credit extended or broadened, but neither is a sure thing.
The loss was attributed largely to delinquencies on credit-card loans as well as credit extended to troubled companies.
In 2011, total credit extended to private, nonfinancial companies was about 120 percent of economic output in China.
§ 547.409 Credit extended and cards issued by financial institutions to a person whose property and interests in property are blocked.
If the transaction debits a checking account only (with no credit extended), the provisions of Regulation E apply.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com