Question

Lisa has a credit card with a limit of $3,000. This means that

Answer 1

Lisa has a credit card with a limit means :

Your credit score usage price — the amount of revolving credit you're presently using divided by means of the whole amount of revolving credit score you have to be had — is one of the most critical factors that influence your credit score scores. So it is a terrific idea to try to maintain it beneath 30%, which is what is commonly encouraged.

What is a credit score card?

A credit score card is a form of credit score facility, supplied by means banks that permit customers to borrow a budget inside a pre-approved credit restriction. It permits customers to make purchase transactions on goods and offerings.

What does credit card restriction suggest?

In very simple terms, the credit restriction or the Credit Card limit is the maximum quantity that someone can spend on his or her credit Card. This restriction is something that the issuing business enterprise fixes.

What occurs when you hit your credit score card restriction?

Right here are the most common consequences related to spending over your credit score restriction: Your credit score card may be declined. you may pay an over-limit rate. Your interest fees could move up.

Learn more about credit cards here: brainly.com/question/26867415

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Answer 2

This means that Lisa cannot spend more than $3000 on her credit card. If she tries to spend more than $3000 using her credit card, her credit card will get declined.