Credit limit refers to the maximum amount of credit a financial association extends to a customer through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card. Lenders usually set credit limits based on information in the application of the person seeking
Your credit score is the result of a mathematical algorithm used to evaluate a user’s past relationship with credit. This past relationship is known as a user’s credit history. The credit history and the credit score tend to predict a user’s future creditworthiness or rather, the likelihood that he will repay a loan, make his