Finance & Banking

Credit limit

ˈkredɪt ˈlɪmɪt

noun

What does Credit limit mean?

The maximum you can borrow on a card.

Example sentence

"My credit limit is $8,000."

American usage tip

Keep utilization under 30% for a good score.

Related Finance & Banking words

Refund
Money returned when you overpaid taxes.
Annual fee
The yearly cost of holding a credit card.
ITIN
Tax ID for those not eligible for an SSN.
Diversify
To spread investments across different assets.
Vesting
Earning full ownership of employer contributions over time.
Cashback
A percentage of spending returned to you.
Withholding
Tax taken from each paycheck automatically.
Employer match
Free money your company adds to your 401(k).

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