Register
What is a credit limit?
45.5k views
2 votes
What is a credit limit?

User Ahmad Elassuty
by
5.9k points

2 Answers

3 votes
A credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum a credit card company allows a borrower to spend on a single card.
User Bart Vangeneugden
by
6.1k points
3 votes
What is 'Credit Limit'

Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card. Lenders usually set credit limits based on information in the application of the person seeking credit.

User Jeremyharris
by
6.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.5m questions

8.6m answers

Other Questions

One reason that businesses want to combine with other businesses is to A. avoid taxes. B. delay expenses. C. hire more workers. D. reduce expenses.
Which of the following possesses the sole power to create revenue bills?
A ______ is "the basic interpretive mechanism to let people know what an organization is doing and are sent out to editors and reporters in hopes of stimulating favorable stories about their organizations"
Why do objects used as money need to be in limited supply
A business plan should generally project financial and operational aspects of the proposed business for the first a. six months. b.one year. c. three to five years. d. seven years.
Link Copied!