What Is a Credit Limit and How Is It Determined?
A credit limit is basically what the term suggests: A financial cap on a credit card account that limits how much money the cardholder can borrow from the card issuer. By including a maximum spending amount, the card issuer buys itself some protection against the cardholder borrowing more than they can pay back on an […]
The post What Is a Credit Limit and How Is It Determined? appeared first on SoFi.