credit limit

Definition

The maximum amount of credit that a bank or other lender will extend to a customer, or the maximum that a credit card company will allow a card holder to borrow on a single card.

Use credit limit in a sentence

I exceeded my credit limit, so I was not allowed to buy anything else, unless I used my debit card.

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If you always pay off your balance on time then your credit limit should continue to grow much higher over time.

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The credit limit was exceeded after completing the transaction so we had to find another way to leverage our business.

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