Available credit refers to the maximum amount of credit that a borrower is eligible for, based on their financial situation and creditworthiness. This includes any existing credit lines such as credit cards or loans, as well as any new credit that may be extended to them by lenders. Available credit can fluctuate over time depending on factors like payment history, debt-to-income ratio, and credit score. It is an important metric used by lenders to assess a borrower's ability to repay debts and make payments on time.