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What is the term for the maximum amount of money people can borrow at one time on their credit cards?

A. Credit limits

B. Minimum monthly payments

C. Credit scores

D. Interest rates

User Hya
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2 Answers

1 vote

Answer: credit limits

Explanation:

What is the term for the maximum amount of money people can borrow at one time on-example-1
User Checketts
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3 votes

Answer:

A. Credit limits

Step-by-step explanation:

The term credit limit describes the maximum amount of debt or loan a financial institution grants to a client. Lenders set credit limits based on a customer's ability to pay. Customers with a bad credit history are given lower limits, while low-risk customers enjoy higher credit limits. Credit limit communicates to a customer the amount of money they can still access on credit.

User Oscarkuo
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