Definition of «low credit limit»

The term "credit limit" refers to the maximum amount of credit that a bank or financial institution is willing to extend to a borrower. A low credit limit means that the available line of credit is limited, and the individual may have difficulty obtaining loans or using their credit card due to insufficient funds.

Sentences with «low credit limit»

Some banks even offer cards with lower credit limits. (lifeoncredit.ca)
A person with a merely «good» 700 credit score may pay slightly higher rates or be approved for lower credit limits on new accounts. (creditsesame.com)
Be prepared for lower credit limits and higher interest rates and annual fees than you had in the past. (sapling.com)
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