What is another word for credit limit?

137 synonyms found


[ kɹˈɛdɪt lˈɪmɪt], [ kɹˈɛdɪt lˈɪmɪt], [ k_ɹ_ˈɛ_d_ɪ_t l_ˈɪ_m_ɪ_t]

Synonyms for Credit limit:

How to use "Credit limit" in context?

A credit limit is a limit on the total amount that a person or institution can borrow. When a person requests credit, the credit-rating agency considers both the credit score and the credit limit of the applicant.

A credit limit can be expressed in a variety of ways, including as a dollar amount, as a percentage of the person's total credit limit, or as a number of loans. For example, Federal law regulates the maximum credit limit on consumer loans, which is currently $368,000.

Credit limits are important because they help to prevent people from overextending their credit and becoming indebted.

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