Credit limit

posted: 4 years ago
Credit limit

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Credit limit

The credit limit is the maximum amount of money you are authorized by the issuer to use on your credit card. You and the bank agree on what the limit should be. What credit limit you are offered will be decided by the bank, and is based on your credit score, your wishes, other loan terms, etc.

Even if there is a credit limit, it could happen that you exceed the limit. If you for example write a credit card cheque or overdraw your card before the last purchases are registered,  you could end up exceeding the limit. If you do so you will normally be charged with a fee.

credit limit

 

 

 

 

 

Despite detailed research we can not guarantee the accuracy or completeness of the information provided.


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