What is a credit limit?

What is a credit limit?

MennisaKohl Trainee Asked on October 30, 2014 in Credit Cards.
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5 Answer(s)

Credit limit can be defined a limit upto which you can take loan or withdraw money from your credit account. For example you have credit limite of $10000 you cannot withdraw amount more than $10000. This is credit limit

Megrisoft Financial Consultant Answered on October 30, 2014.
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Credit limit is the maximum amount that can be borrowed on a credit card without penalty

Raj Accountant Answered on November 5, 2014.
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Credit card company will allow a card holder to take out at once (If your card limit is 50,000 you can’t credit more then ) on a credit card. This limit called “Credit Limit”

Henry Brown Trainee Answered on October 31, 2014.
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A credit limit is the maximum amount that a person may charge on a credit card or borrow from a financial institution. A credit limit is based on several factors that influence a borrower’s ability to repay.

pooja Trainee Answered on October 31, 2014.
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Credit limit is refers to maximum amount a credit card company will allow someone to borrow on a single card.

Neharani Trainee Answered on December 9, 2014.
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