answersLogoWhite

0


Best Answer

Credit limits are set by your lender who can change your credit limit depending on your payment history, usage and a number of other factors. They will make reasonable choices when setting or amending your credit limit and would certainly avoid giving someone a credit limit they believe the individual could not reasonably afford.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do credit card companies only approve credit limits that an individual is able to afford?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

What does it mean for an individual to have a personal line of credit?

Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.


Which companies offer credit cards with automatic approval?

Credit card companies that approve automatically are few and far between. The few that do this are MasterCard and Visa by the bank First Premier or Premier.


What companies will approve you for credit using your tax identification number only?

I am guessing you mean approve you so you can receive credit from their business. The answer is no businesses. The business you have a Tax ID for is just an result of your own personal credit. They need to know everything about your own credit history to grant you credit. To do this they will need your credit references and/or your social security number to run a credit check and make sure your credit is A-Number One.


Which credit cards have the lowest interest?

There are many credit companies offering low and competitive interest rates, which depend on the individual's credit rating. Some of the best companies are Citi Simplicity and Slate from Chase. These two companies both offer 0% APR for the first year. However, the individual must meet credit qualifications. Other companies with low and/or competitive rates are BarclayCard MasterCard and the Discover It Card.


Where i can find a good premiere credit card?

Your local bank will be the best place to find information about where to get a good premiere credit card that you can afford. In addition, many credit companies have phone numbers you can call to get more information on their cards.

Related questions

What does it mean for an individual to have a personal line of credit?

Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.


Which companies offer credit cards with automatic approval?

Credit card companies that approve automatically are few and far between. The few that do this are MasterCard and Visa by the bank First Premier or Premier.


What is the eligibility for an individual to get loan to buy sharp digital copiers?

Sharp will check an individual's credit report just like when an individual applies for any other loan. Credit scores of 680+ will most likely be required for Sharp to approve you.


What companies will approve you for credit using your tax identification number only?

I am guessing you mean approve you so you can receive credit from their business. The answer is no businesses. The business you have a Tax ID for is just an result of your own personal credit. They need to know everything about your own credit history to grant you credit. To do this they will need your credit references and/or your social security number to run a credit check and make sure your credit is A-Number One.


Which credit cards have the lowest interest?

There are many credit companies offering low and competitive interest rates, which depend on the individual's credit rating. Some of the best companies are Citi Simplicity and Slate from Chase. These two companies both offer 0% APR for the first year. However, the individual must meet credit qualifications. Other companies with low and/or competitive rates are BarclayCard MasterCard and the Discover It Card.


What exactly is a 3 bureau credit report?

A 3 bureau credit report, refers to a credit report that contains all the credit scores of an individual, from the leading three credit bureau companies.


Which credit card companies offer the lowest interest rates on business credit cards?

All major credit card companies offer business credit cards. Rates vary by special offer and credit rating, so you will have to check with each individual company to see what they are offering.


What companies are reliable in helping you get rid of bad debt?

Consumer Credit Companies are reliable in helping you get rid of bad debt, they contact your creditors and negotiate a settlement or monthly payments you can afford.


Where i can find a good premiere credit card?

Your local bank will be the best place to find information about where to get a good premiere credit card that you can afford. In addition, many credit companies have phone numbers you can call to get more information on their cards.


Where can I find a mortgage company that will approve a mortgage when I have a 553 credit score?

There is probably no credit union or bank that will approve you when your score is that low. What on earth did you do to have such a horrible credit score? You should be ashamed of yourself.


What are some of the top credit card companies?

It is possible to compare credit cards on the website Compare the Market in order to find the best credit card company for an individual person. Some of the more well known credit card companies include Barclaycard, NatWest, American Express and Nationwide.


What is one major credit card company?

The top two credit card companies are Visa and Mastercard. There are thousands of individual companies and banks that use both of these. They offer affordable interest rates and can be obtained easily from your home.