PAGE 1
000 A000000 11/30/2014
000 C000000 0001551949
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 Guggenheim Credit Allocation Fund
001 B000000 811-22715
001 C000000 3128270100
002 A000000 227 WEST MONROE STREET
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
008 A000001 GUGGENHEIM FUNDS INVESTMENT ADVISORS, LLC
008 B000001 A
008 C000001 801-000000
008 D010001 CHICAGO
008 D020001 IL
008 D030001 60606
008 A000002 GUGGENHEIM PARTNERS INVESTMENT MANAGEMENT LLC
008 B000002 S
008 C000002 801-000000
008 D010002 SANTA MONICA
008 D020002 CA
008 D030002 90401
010 A000001 RYDEX FUND SERVICES, LLC
010 C010001 ROCKVILLE
010 C020001 MD
010 C030001 20850
011 A000001 UBS SECURITIES LLC
011 B000001 8-00000000
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10171
011 A000002 WELLS FARGO SECURITIES LLC
011 B000002 8-00000000
011 C010002 CHARLOTTE
011 C020002 NC
011 C030002 28202
012 A000001 COMPUTERSHARE SHAREOWNER SERVICES LLC
012 B000001 84-0000000
012 C010001 COLLEGE STATION
PAGE 2
012 C020001 TX
012 C030001 77842
012 C040001 3170
013 A000001 ERNST & YOUNG LLP
013 B010001 MCLEAN
013 B020001 VA
013 B030001 22102
014 A000001 CHANNEL CAPITAL GROUP LLC
014 B000001 8-53692
014 A000002 SECURITY DISTRIBUTORS, INC.
014 B000002 8-10781
014 A000003 GUGGENHEIM INVESTOR SERVICES, LLC
014 B000003 8-44742
014 A000004 GUGGENHEIM SECURITIES, LLC
014 B000004 8-49107
014 A000005 SAMMONS SECURITIES COMPANY, LLC
014 B000005 8-53482
014 A000006 GUGGENHEIM FUNDS DISTRIBUTORS, LLC
014 B000006 8-48842
014 A000007 SAMMONS FINANCIAL NETWORK, LLC
014 B000007 8-68905
014 A000008 GUGGENHEIM ENERGY ADVISORS, LLC
014 B000008 8-68983
015 A000001 THE BANK OF NEW YORK MELLON
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
021 000000 0
022 A000001 BARCLAYS
022 B000001 UNKNOWN
022 C000001 6585
022 D000001 69818
022 A000002 CREDIT SUISSE SECURITIES
022 B000002 13-1898818
022 C000002 12959
022 D000002 60246
022 A000003 BANK OF AMERICA
022 B000003 UNKNOWN
022 C000003 10214
022 D000003 31366
022 A000004 CITIGROUP GLOBAL MARKETS
022 B000004 11-2418067
022 C000004 6573
022 D000004 28231
022 A000005 RBC CAPITAL MARKETS
022 B000005 UNKNOWN
PAGE 3
022 C000005 3267
022 D000005 8012
022 A000006 WELLS FARGO INSTITUTIONAL SECURITIES
022 B000006 UNKNOWN
022 C000006 6674
022 D000006 2601
022 A000007 GOLDMAN SACHS
022 B000007 13-510880
022 C000007 6202
022 D000007 669
022 A000008 JP MORGAN CHASE & CO.
022 B000008 UNKNOWN
022 C000008 4928
022 D000008 1707
022 A000009 MORGAN STANLEY
022 B000009 13-2655998
022 C000009 4403
022 D000009 1858
022 A000010 DEUTSCHE BANK SECURITIES INC.
022 B000010 UNKNOWN
022 C000010 2910
022 D000010 2914
023 C000000 88378
023 D000000 230254
024 000000 Y
025 A000001 CITIGROUP, INC.
025 B000001 N/A
025 C000001 D
025 D000001 1093
025 A000002 JEFFERIES FINANCE, LLC
025 B000002 95-2622900
025 C000002 D
025 D000002 2698
025 A000003 BANK OF AMERICA
025 B000003 N/A
025 C000003 D
025 D000003 1509
025 A000004 HSBC
025 B000004 13-2650272
025 C000004 D
025 D000004 1176
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
PAGE 4
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
PAGE 5
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 2.7
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 73.0
062 Q000000 57.3
062 R000000 3.9
063 A000000 0
063 B000000 6.6
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
PAGE 6
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 78462
071 B000000 55967
071 C000000 219137
071 D000000 26
072 A000000 6
072 B000000 7685
072 C000000 147
072 D000000 0
072 E000000 0
072 F000000 1096
072 G000000 29
072 H000000 0
072 I000000 9
072 J000000 9
072 K000000 0
072 L000000 14
072 M000000 42
072 N000000 13
072 O000000 139
072 P000000 207
072 Q000000 40
072 R000000 20
072 S000000 48
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 15
072 X000000 1681
072 Y000000 0
072 Z000000 6151
072AA000000 0
072BB000000 1954
072CC010000 0
072CC020000 6660
072DD010000 7079
PAGE 7
072DD020000 0
072EE000000 0
073 A010000 1.0678
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1199
074 B000000 0
074 C000000 0
074 D000000 203528
074 E000000 6131
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 4248
074 J000000 3159
074 K000000 0
074 L000000 3442
074 M000000 287
074 N000000 221994
074 O000000 3773
074 P000000 324
074 Q000000 0
074 R010000 61473
074 R020000 0
074 R030000 0
074 R040000 190
074 S000000 0
074 T000000 156234
074 U010000 6629
074 U020000 0
074 V010000 23.57
074 V020000 0.00
074 W000000 0.0000
074 X000000 4577
074 Y000000 96522
075 A000000 0
075 B000000 161494
076 000000 22.85
077 A000000 N
077 B000000
077 C000000
077 D000000
077 E000000
077 F000000
077 G000000
077 H000000
077 I000000
077 J000000
077 K000000
077 L000000
PAGE 8
077 M000000
077 N000000
077 O000000
077 P000000
077 Q010000
077 Q020000
077 Q030000
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 15900
081 A000000 Y
081 B000000 14
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON SHARES
087 A020000 40168G108
087 A030000 GGM
088 A000000 Y
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE Elizabeth Voss
TITLE Analyst