Credit Limit

A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline). For example, it is the most that a credit card company will allow a card holder to take out at once on a card.

This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow and/or ability to repay the credit card debt and is an obligation of the consumer to pay just like all other parts of the balance.

Read more about Credit Limit:  Maxed Out

Famous quotes containing the words credit and/or limit:

    The most threatened group in human societies as in animal societies is the unmated male: the unmated male is more likely to wind up in prison or in an asylum or dead than his mated counterpart. He is less likely to be promoted at work and he is considered a poor credit risk.
    Germaine Greer (b. 1939)

    Can you find out the deep things of God? Can you find out the limit of the Almighty?
    Bible: Hebrew, Job 11:7.