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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.

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14y ago

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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.


Why do credit card companies ask for income information?

Credit card companies ask for income information to assess a person's ability to repay the credit card debt. This helps them determine the credit limit and interest rate that should be offered to the individual.

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.


Why do credit card companies ask for income information?

Credit card companies ask for income information to assess a person's ability to repay the credit card debt. This helps them determine the credit limit and interest rate that should be offered to the individual.


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.


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.


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.


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.


How can you be approved for a payday loan?

Most payday companies will approve anyone, as that is their business and in their interest to do so. The catch here is that they will charge you over 700% interest, this is just for those with good credit. If you have bad credit, the rates will be much higher.