A lender assigns a credit limit similar to a credit card that you are allowed to spend.

Source: https://www.forbes.com/sites/forbesfinancecouncil/2023/01/04/how-business-owners-can-compare-regular-loans-and-lines-of-credit/

Approval for a secured credit card is largely based on one’s ability to put up the cash deposit, usually $200-$300, which becomes the card’s credit limit.

Source: https://toronto.citynews.ca/2023/12/20/you-can-use-your-home-or-car-as-collateral-to-get-a-credit-card-should-you/

Economists, Wall Street analysts and political observers are warning His concessions to fiscal conservatives Collecting votes to raise the credit limit, Mr. That could make it very difficult for McCarthy — or even to vote — for such a measure.

Source: https://www.mariontoday.org/kevin-mccarthys-speaker-drama-raises-fresh-fears-about-credit-limit/

Plus, you can move a balance only as high as the card’s credit limit allows, and there’s typically a fee charged on the amount you transfer, usually between 3% and 5%.

Source: https://rapidcityjournal.com/lifestyles/millennial-money-5-tactics-to-pay-buy-now-pay-later-debt/article_4aa52ae3-ed34-536f-86a8-5465cf9509e6.html

President Joe Biden and House Speaker Kevin McCarthy A temporary credit limit sealed the deal Saturday night.

Source: https://www.mariontoday.org/nasdaq-s-clinical-trial-stocks-sink/

That could occur as early as June 1 unless Congress agrees to raise the credit limit set for the nation’s borrowing.

Source: https://federalnewsnetwork.com/business-news/2023/05/stock-market-today-asian-shares-turn-lower-after-china-economic-data-weaker-than-expected/

What is the max credit limit for Credit One platinum card?

Source: https://fortune.com/recommends/credit-cards/credit-one-bank-platinum-rewards-visa-card-review/