Business / Taxes / Credit Limit: A credit limit, also known as a credit line, is the maximum amount of money you can borrow under a revolving credit agreement. For instance, if you have a credit card with a credit limit of $3,000, and you charge $1,000, you can spend $2,000 more before you reach your credit limit. And if you repay the $1,000 before the end of the month without making additional purchases, your credit limit is back up to $3,000 again. Most credit issuers charge additional fees or penalties if you exceed your credit limit.
Credit Noun Synonyms: belief, faith, trust, credence
Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
Limit Noun Synonyms: check, curb, bridle, restrict, restrain, hold in check
Limit Verb Synonyms: set, define, determine, fix
Business / Taxes / Credit Line: A credit line, or line of credit, is a revolving credit agreement that allows you to write checks or make cash withdrawals of amounts up to your credit limit. When you use the credit — sometimes cal MORE
Business / Loan / Revolving Credit: It is the same thing as a line of credit: an amount of money, which a business can borrow against at times it needs capital. Often accessed by check, ATM, or business card. MORE