Question : Credit Limit????
This is my first credit card & I have a credit limit of $300. This month there were a few unexpected car problems that came about so i used my card to pay the bills. I now have no available credit. if i pay only the minimum for this month will next month have a credit limit of $300 or will it be whatever the portion of this month's bill that i paid? i'm confused as to how this works
- asked by kale_yy
All Answers:
Answer #1
The amount you charged will be subtracted andafter your payment is applied, the interest on theunpaid balance will be added. No, you won't have$300 available again until the $300 you justcharged plus the interest is paid.
- answered by Classy Granny
Answer #2
If you have a 300 limit, then that is it. If youhave used the 300 up, then you don't have anymorecredit left. After you pay your monthy minimumpayment, you will now have 300 minus the amountyou paid, which means if your minimum amount issay 55.00, then your available credit would be55.00, not another 300. Try to get you some bookson credit, and money management.
- answered by DAS
Answer #3
You just learned a valuable lesson: there is nofree lunch. If you keep making the minimumpayment, you will be years getting this card paidoff. You are lucky not to be able to charge anymore on it. Do not ask them to raise the limit. Put the card away until you have paid it down tozero. Then pay the balance in full every month. That will keep you out of trouble.
- answered by Sharon T
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