ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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creditworthiness
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credit report
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credit limit
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variable rate of credit
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Detailed explanation-1: -A credit limit is the maximum amount of money a lender will allow you to spend using a particular credit card or revolving line of credit. Lenders set those limits based on several factors, including your credit score, personal income, and loan repayment history.
Detailed explanation-2: -In simplest terms, a credit card limit-also known as a credit line-is the maximum amount that a person can spend on their card, set by the credit card issuer.
Detailed explanation-3: -The maximum amount you can spend with your credit card is called your credit limit.
Detailed explanation-4: -Credit Limit-How much you are authorized to spend each month. This is the dollar value of the maximum spending limit associated with a cardholder ‘s account for the current monthly benefit cycle (10-9th). Available Credit-How much you have left for this cycle.