credit limits
Maximum borrowing amounts
Credit limits are the maximum amounts a lender allows a borrower to access on a credit account.
A credit card might have a $5,000 credit limit, meaning the cardholder cannot charge more than that amount without paying down the balance.
Lenders set credit limits based on creditworthiness, income, and existing debt.
Higher limits generally indicate greater trust from the lender.
Allocating funds systematically
- self-controlAbility to restrain impulses
- disciplineTrained self-control or specialty
- moderationAvoidance of excess
- restraintControl over impulses
financial planning · debt avoidance · living within means · overspending · maxed out · payment history · minimum payment · spending habits
Ability to repay debts
- spending capMaximum permitted expenditure
- overdraftSpending past zero
- debt-to-income ratioPayments divided by earnings
- balance transferMoving debt to another account
budgeting
Allocating funds systematically
- self-controlAbility to restrain impulses
- disciplineTrained self-control or specialty
- moderationAvoidance of excess
restraint · financial planning · debt avoidance · living within means · overspending · maxed out · payment history · minimum payment · spending habits · financial health
creditworthiness
Ability to repay debts
- spending capMaximum permitted expenditure
- overdraftSpending past zero
- debt-to-income ratioPayments divided by earnings
- bankingbank, banks, ATM, ATMs, account
- limitslimits, limitation, time limits, age limits, speed limits
- creditcreditworthiness, creditworthy, FICO, FICO score, microcredit
- college catalogscourse catalog, course descriptions, prerequisites, degree programs, majors
- credit termsloans, installment loan, monthly payment, interest rate, installments
- financial biasredlining, loan denial, fair lending, interest rates, loan rates
limit, credit, discredit, credits, credited, credo, accredit, crediting, creditor