Question

explain the concept of a credit limit on a credit card. the minimum amount of money that a cardholder is allowed to borrow on the card. the number of purchases a cardholder can make in a month. the interest rate charged on the credit card balance. the maximum amount of money that a cardholder is allowed to borrow on the card.

Explanation:

A credit - card credit limit is the maximum borrowing amount set by the card - issuing institution for the cardholder. It determines the upper boundary of the cardholder's credit usage.

Answer:

The maximum amount of money that a cardholder is allowed to borrow on the card.