A borrower's credit limit may be raised after he or she exhibits timely and full repayments. However, having a high credit limit and multiple lines of credit may hurt a person's overall credit rating. In these cases, new potential lenders can see that the applicant has access to a large amount of debt, which may lower the chances that this person will be able to repay his or her debts in the future. As a result, new potential lenders might be less likely to offer an additional source of debt.
Investment dictionary. Academic. 2012.
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credit limit — noun The maximum amount of credit extended to an individual or business • • • Main Entry: ↑credit * * * credit limit UK US noun [countable] [singular credit limit plural … Useful english dictionary
credit limit — credit ,limit noun count the maximum amount of money that a customer can borrow using a particular credit card account … Usage of the words and phrases in modern English
Credit limit — A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline). For example, it is the most that … Wikipedia
credit limit — the upper limit of credit that a business will allow a customer to have. Glossary of Business Terms * * * credit limit credit limit ➔ limit1 * * * credit limit UK US noun [C] ► BANKING, FINANCE the maximum amount of money that a bank will allow… … Financial and business terms
credit limit — UK / US noun [countable] Word forms credit limit : singular credit limit plural credit limits the maximum amount of money that a customer can borrow using a particular credit card account … English dictionary
credit limit — / kredɪt ˌlɪmɪt/ noun the largest amount of money which a customer can borrow ♦ he has exceeded his credit limit he has borrowed more money than he is allowed to … Dictionary of banking and finance
credit limit — ➡ credit cards * * * … Universalium
Credit limit — The maximum that a customer can borrow. Limits can be established so that they relate to only one credit facility, or if the customer has several credit facility lines, then you can construct a hierarchy of limits for the customer. Limits can… … International financial encyclopaedia
credit limit — high amount of money a person may receive on credit; total amount of credit that can be allotted … English contemporary dictionary
credit limit — The maximum amount of *credit offered to a customer. The use of credit limits is a common *internal control over *accounts receivable … Auditor's dictionary