zero-floor limit

Definition

The authorized limit placed on a credit card transaction based on the outstanding balance due on the account or the existence of other past due accounts in the card holders credit history. Opposite of floor limit which is the largest credit card transaction that can be approved without prior authorization by the card issuer.

Use zero-floor limit in a sentence

You should try and make sure that you do not go below the zero-floor limit or you will get declined.

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There was a zero-floor limit and there was a limit placed on the credit card transaction, which was really lame in my eyes.

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Sheryl really wanted to purchase the ski set but could not use her credit card to do so because of the zero-floor limit set on her because of her large outstanding balance.

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