Crossword Genius

There's no great amount of credit when taken in by a fool! (5)

Ross

I believe the answer is:

scrap

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'there's no great amount' is the definition.
I can't tell whether this defines the answer.

'credit when taken in by a fool' is the wordplay.
'credit when' becomes 'cr' (abbreviation. I am not sure about the 'when' bit.).
'taken in by' indicates putting letters inside.
'a fool' becomes 'sap' ('sap' can be a synonym of 'fool').
'cr' placed inside 'sap' is 'SCRAP'.

'of' acts as a link.

Can you help me to learn more?

(Other definitions for scrap that I've seen before include "Carps (anag.)" , "Cancel; fight" , "Dispose of" , "boxing match?" , "Junk; altercation" .)

I've seen this clue in the Evening Standard.
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