Credit Limit

Your Credit Limit is the maximum amount of money that a lender or credit card issuer will allow you to borrow or charge on a credit account. The credit limit is determined by the lender or issuer and is based on several factors, including:

1. Credit history: Your credit history and credit score are major factors that lenders consider when determining your credit limit. If you have a good credit history and score, you may be offered a higher credit limit.

2. Income: Your income is a major factor that lenders consider when determining your credit limit. 

3. Debt-to-income ratio: Lenders also consider your debt-to-income ratio, which is the amount of debt you have compared to your income. If you have a high debt-to-income ratio, you may be offered a lower credit limit, as lenders will view you as a higher risk.

4. Existing credit accounts: Your existing credit accounts, such as credit cards and loans, can also impact your credit limit. Lenders may be less willing to offer a high credit limit if you already have a lot of existing debt or borrowing potential on your creiit cards.

Maxing out your credit limit and carrying high balances will have a negative impact on your credit score and make it harder to get approved for credit in the future.