What is a credit limit?
The Bankrate.com financial term of the day is: "credit limit."
When you use a credit card, the sky is NOT the limit. Instead, there is a maximum amount of money you can borrow to make purchases using the card, and this is called your credit limit. Your credit limit is set based on your income and your ability to handle credit, as reflected by your credit score. You can be hit with a fee if you go over your limit.
Your credit card can't get you all that money can buy. Your credit limit puts boundaries on your plastic.
To shop for the perfect credit card, visit the credit cards section at Bankrate.com.
Your credit card data can be stolen in a matter of seconds. Here's what you should watch out for.
When you swipe your card, your info makes many stops before hitting your bank account.
Credit card rates were mixed this week.
Bankrate asked young adults ages 18-29 about their credit card usage.
Do you know where your personal information goes once a hacker gets a hold of it?
Do you have enough in savings to pay for an unexpected emergency?
What type of investment edged out cash as America's most preferred long-term investment? Watch to find out.
Think you are familiar with Social Security? Bankrate experts share valuable insight about the program.
Watch Bankrate experts weigh-in with tips to help add money to your 401(k) account as you approach retirement.
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