Sacred itinerant holding distinction (6)
I believe the answer is:
credit
'distinction' is the definition.
(I've seen this before)
'sacred itinerant holding' is the wordplay.
'holding' indicates the answer is hidden within the clue.
'CREDIT' is hidden in the letters of 'sacred itinerant'.
(Other definitions for credit that I've seen before include "Title" , "Reputation (for solvency)" , "Belief; tick" , "Opposite of debit" , "acknowledgement of liability" .)