Port Credit is found at the mouth of the Credit River on the north shore of Lake Ontario, within the city of Mississauga. Port Credit's boundaries are the Canadian National Railway tracks (where the Lakeshore West GO Transit trains run) to the north, Seneca Street and the western edge of the Adamson Estate to the east and Godfrey's Lane and the townhome complex located on the west side of Shawnmarr Road to the west.

The former Town of Port Credit earned a reputation for its excellent harbor, through which grain and lumber were exported. The first permanent structure to be built in the village was the Government Inn (1798-1861), once located on the east bank of the River. Lieutenant Governor John Graves Simcoe had ordered construction of the Inn to serve as a way station for travelers by land and lake, and it was leased to a succession of residents until its destruction by fire.

The village plan was laid out in 1834 and for several years, Port Credit was a thriving harbor community. Later in the 19th century, it became known for its stonehooking trade. For years, a unique craft called a "stonehooker" plied the waters of Lake Ontario, near t he shore, collecting stones for use in local building trades. Other industries such as the St. Lawrence Starch Works (1889-1989) and the Port Credit Brick Yard (1891-1927) provided employment for many local residents.

By the 20th century, particularly after the paving of the Lakeshore Highway 1915, Port Credit had become an attractive location for tourists and travelers. It acquired the status of "police village" in 1909, town status in 1961, and joined the City of Mississauga in 1974.

Port Credit did not amalgamate with its neighbouring settlements in southern Peel County when the Town of Mississauga was created from the former Toronto Township in 1968. Port Credit maintained its independence until the City of Mississauga was incorporated in 1974.

Today the harbour has been redeveloped into a marina on the east bank and a charter fishing centre and public boat launch facility on the west bank under the lighthouse. Formerly the home of the Port Credit Yacht Club, it is now the heart of a tourist and recreation centre. Port Credit Harbour Marina is the largest public marina in the region.

The RIDGETOWN (launched June 24, 1905) has been a signature structure of Port Credit. Since June 21, 1974, when the she was loaded with stone and, with her cabins and stack still in place, sunk as a breakwater for the Port Credit Harbour. She remains on guard there today.

The tallest structure in Port Credit used to be a 320 foot tall smokestack at the St Lawrence Starch plant which has since been demolished. The felling of the stack drew a very large crowd numbering in the hundreds. Some feel the stack falling was the beginning of the corporization of Port Credit. The status as prime Port Credit landmark for the boaters on Lake Ontario has been taken by apartment and condominium buildings.