What is a credit card limit exactly?
Hi Just got a credit card for the first time and want to know what a credit card limit is ? Is it the amount left after you have spent some money? Say for example my credit limit was 10 000, if I spend 3 000 of it but say after a year I have paid off the 3 000 that I owed, does that mean my credit limit is 10 000 again? or will my credit limit only be 7 000 eventhough I have paid off the 3 000 that I spent before?
How does it work out???
I’m new to this