At the end of the month, the credit card holder can choose to repay the entire amount or leave an unpaid balance that is subject to interest until it is paid off. Exceeding the limit may require the credit card holder to pay a credit limit fee.
There is a maximum amount of credit that a card can provide, called a credit limit, which should not be surpassed. 5% Payoff within a certain timeframe payoff inĪ credit card is a small plastic card issued by a bank, business, or other organization, allowing the holder to make purchases or withdrawals on credit, which is a form of unsecured loan from the issuer.
