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What Is a Credit Limit?

A credit limit, also known as a line of credit, is simply the maximum amount of credit available to the customer to purchase goods and services. If cardholders exceed the credit limit, they will often be required to pay penalties on top of their monthly due amount. But if cardholders spend less than the limit, they can continue to use the card until they reach the limit.

The best 8 credit cards have the highest limit1

1Wathen J. (2018, November 1). These 8 Credit Cards Have the Highest Limits [Blog post].