available credit amount

USAGE SUMMARY

The phrase "available credit amount" is correct and usable in written English.
It can be used in financial contexts, particularly when discussing the amount of credit that a person or entity has access to. Example: "Before making a large purchase, it's important to check your available credit amount to ensure you can afford it."

✓ Grammatically correct

Human-verified similar examples from authoritative sources

Similar Expressions

60 human-written examples

Among those who borrowed, many opted to take out the full available initial credit amount as a lump sum.

Forbes

And the amount of available credit should be equivalent to the amount on deposit.

The New York Times

If correct, this means that when a donor later dies, and substantial 2011 or 2012 gifts are added into his or her estate tax computation, the constructive gift tax reduction applied to the tentative estate tax will be low – and there will not be a corresponding high unified credit amount available for estate tax purposes to offset this enhanced tax.

Forbes

You simply divide the total amount of credit that you've used (or owe) by your total amount of available credit to get the percentage (or your credit utilization).

Huffington Post

Closing an account can reduce a person's total amount of available credit, says Ethan Dornhelm, senior director of scores analytics for FICO.

The Washington Post

Not only has the program opened up a substantial amount of available credit, but it also serves as a direct marketing tool.

The New York Times

Over all, the amount of available credit for the industry appears to be about flat, with the three biggest issuers — Bank of America, JPMorgan Chase and Citigroup — slightly increasing their overall credit lines.

The New York Times

Similarly, the amount of available credit on cards has declined by 21 percent since its peak, from $3.51 trillion in the third quarter of 2008 to $2.77 trillion in the fourth quarter of 2009, the data shows.

The New York Times

In the past, retirees sometimes opened reverse mortgages in order to immediately spend the full amount of available credit, possibly either to overindulge irresponsibly in unnecessary discretionary expenses or finance shady or sometimes fraudulent investment or insurance products.

Forbes

If you previously exercised ISOs and might benefit from these provisions but have not carefully computed the AMT and AMT credits for each year since you first incurred ISO-related AMT, you'll need to reconstruct each preceding year to determine the amount of available credit.

Forbes

The amount of your available credit that you're using makes up about 30% of your total FICO score.

Huffington Post

Expert writing Tips

Best practice

When discussing personal finance, clarify the "available credit amount" in relation to the overall credit limit to avoid confusion. For example, state, "Your available credit amount is $X out of a total credit limit of $Y".

Common error

Avoid using "available credit amount" interchangeably with "credit limit". The credit limit is the total credit extended, while the available credit is what remains after deductions for current balances.

Linguistic Context

The phrase "available credit amount" functions as a noun phrase, primarily used to identify the specific quantity of credit that a person or entity can currently access. It specifies a financial resource. Ludwig AI validates that this phrase is correct.

Expression frequency: Missing

Frequent in

Science

0%

News & Media

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Formal & Business

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Less common in

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News & Media

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Formal & Business

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Ludwig's WRAP-UP

The phrase "available credit amount" is a noun phrase used to denote the amount of credit that is currently accessible to a person or entity. Ludwig AI indicates that it's grammatically correct. While examples are currently missing from the corpus, the phrase is commonly understood in financial contexts. Related phrases include "credit limit", "credit balance", and credit line. When using this phrase, it's important to distinguish it from the overall credit limit to avoid confusion. Its primary function is to convey financial information, and it can be used in both neutral and formal settings.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

credit limit

Refers to the maximum credit a lender extends to a borrower; focuses on the upper bound.

credit balance

Represents the amount of credit remaining for use; emphasizes the current unused portion.

credit line

Indicates the total credit extended to a borrower; highlights the overall credit agreement.

spending power

Highlights the capacity to make purchases using credit; focuses on the practical use.

borrowing capacity

Refers to the ability to borrow funds; emphasizes the potential to acquire credit.

purchasing power

Highlights the ability to buy goods and services; broader application beyond just credit.

credit availability

Focuses on the general access to credit; broader concept related to market conditions.

unused credit

Emphasizes the portion of credit that has not been used; direct focus on the untapped amount.

remaining credit

Highlights the credit still accessible for use; implies a prior credit usage.

credit allowance

Refers to the sanctioned credit for use; emphasizes permission and allocation.

FAQs

How can I determine my "available credit amount"?

Your "available credit amount" can typically be found on your credit card statement or by logging into your online account. You can also call your credit card issuer to inquire.

What factors affect my "available credit amount"?

Your "available credit amount" is primarily affected by your spending and payments. As you make purchases, your available credit decreases. Payments increase your "credit balance" and, therefore, your available credit.

Is "available credit amount" important for my credit score?

Yes, your "available credit amount" is a key factor in calculating your credit utilization ratio, which significantly impacts your credit score. Aim to keep your balance low relative to your available credit.

What's the difference between "available credit amount" and "credit limit"?

The "credit limit" is the total amount of credit a lender extends, while the "available credit amount" is the credit you have left to spend after deducting your current balance.