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 credit card.
This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow 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.
n. (context finance banking English) The maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit.
Usage examples of "credit limit".
Gambled above his credit limit In the flesh, Dreyer's weight was pushing the upper limit permitted by Z-B's fitness requirement.
Cole: This is to inform you that you have exceeded your credit limit of 2,500 credits.
They gave me a debit card and said, 'Here's a two-million-dollar credit limit, try not to overload it.
Once the credit limit was exceeded, the scammer could either make the minimum payment or move on, fencing items or selling them at a discount and pocketing the profits.
Cole: This is to inform you that you have exceeded your credit limit of twenty-five hundred credits.
Drive, turning randomly at each intersection, until credit limit exceeded.
He'd abused it more than the card, barely given it a moment's rest, and now it had reached its organic equivalent of a credit limit.
On the other hand, the credit limit on Stanley's Visa card was all the way up to $2,200.
My staff will get a Suncard for you, with a credit limit big enough to cover anything you want.