credit limits

USAGE SUMMARY

The phrase "credit limits" is correct and usable in written English.
It is typically used in financial contexts to refer to the maximum amount of credit that a lender is willing to extend to a borrower. Example: "Before applying for a new credit card, it's important to check your credit limits to ensure you don't exceed them."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

57 human-written examples

Fees for exceeding credit limits.

The New York Times

ISPs would then give all of their subscribers credit limits.

The Economist

Credit limits for trading orders would have to be respected.

The New York Times

And quietly, American Express is skinning back credit limits.

The New York Times

Ms. Hirschman says it is refining an algorithm for setting credit limits.

The New York Times

The problem is that credit scoring systems reward consumers for having unused and available credit limits.

The New York Times

In most cases, the decisions raised borrowers' credit limits by 15percentt, he said.

The New York Times

Some raise interest rates when consumers get close to their credit limits.

The New York Times

The initial credit limits were $300 to $500, Mr. Nocera said.

The New York Times

The law tied credit limits to a user's income, doubled minimum payments and stiffened credit checks.

The New York Times

This is particularly helpful to younger people who may have lower credit limits and thus breach them more often.

The New York Times

Expert writing Tips

Best practice

When discussing credit utilization, mention "credit limits" explicitly to clarify the denominator in the calculation. For instance, clarify if a consumer uses 30% of their "credit limits", it should be clear to the reader what exactly represents this 100%.

Common error

Avoid using "credit limits" when referring to creditworthiness. "Credit score" is the appropriate term for assessing financial trustworthiness, while "credit limits" denote the maximum borrowing amount.

Linguistic Context

The phrase "credit limits" functions as a noun phrase, referring to the maximum amount of credit a lender will extend to a borrower. Ludwig provides several examples across various sources demonstrating this usage. The Ludwig AI analysis confirms that the phrase is correct and usable in written English.

Expression frequency: Very common

Frequent in

News & Media

68%

Science

16%

Formal & Business

8%

Less common in

Wiki

4%

Encyclopedias

2%

Reference

2%

Ludwig's WRAP-UP

The phrase "credit limits" refers to the maximum amount of credit a lender extends to a borrower, used across diverse contexts from news to finance. Ludwig confirms its grammatical correctness and widespread usability. Common in News & Media, Science, and Formal & Business settings, understanding "credit limits" is crucial for managing personal finances and interpreting financial reports. Alternatives include "borrowing capacity" and "maximum credit line". It's also important not to confuse "credit limits" with credit scores, as the two are distinct concepts.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

maximum credit line

Specifies the credit as a line and emphasizes the maximum.

credit cap

Uses the term "cap" to define the limit to borrowing.

borrowing capacity

Replaces "credit limits" with a focus on the ability to borrow.

approved credit amount

Highlights the amount of credit that has been approved.

credit ceiling

Uses "ceiling" to emphasize the upper boundary of credit.

credit threshold

Emphasizes the point at which credit is restricted.

spending limits

Focuses on the spending aspect of credit use.

maximum borrowing power

Emphasizes the power to borrow up to a specified limit.

credit allowance

Replaces "limits" with "allowance", implying the amount allowed.

available credit

Indicates the amount of credit currently accessible to the user.

FAQs

How do I request an increase in my "credit limits"?

Contact your credit card issuer and inquire about a credit limit increase. They will typically review your credit history and income to determine eligibility.

What happens if I exceed my "credit limits"?

Exceeding your "credit limits" can result in over-limit fees, higher interest rates, and a negative impact on your credit score. It's best to stay below your limit.

Can a credit card company lower my "credit limits"?

Yes, credit card companies can lower your "credit limits" if they deem you a higher risk, such as due to missed payments or changes in your credit score. You can also consider alternatives like a "secured credit card".

What's the difference between "credit limits" and "available credit"?

"Credit limits" refer to the maximum amount you can borrow, while "available credit" is the difference between your credit limit and the amount you currently owe. For example, if you have a $1,000 credit limit and owe $300, your available credit is $700.