Many people think that credit card limit refers to the credit limit given by the bank after the card is approved, but this is not entirely correct. On the basis of the bank's credit limit, credit cards will also derive a variety of credit limits. Let's take a look here.

What are the credit card limits? 1. Fixed limit: This is the most basic limit, which is the limit granted by the bank after the card is approved. Within the limit, you can overdraw for consumption and withdraw cash. After use, the available limit will be reduced, but it will be restored with repayment. The fixed limit is not permanent. The bank will make adjustments after a comprehensive assessment based on the cardholder's economic status, income level, and personal credit situation. The first adjustment time is 6 months after using the card. The next adjustment will require an interval of 6 months. The subsequent quota may be increased or reduced. 2. Temporary quota: This is a quota given by the bank with a validity period ranging from 1 to 3 months. It will automatically expire when it expires. When the fixed limit cannot meet the consumption needs, cardholders can apply to the bank. Generally, it takes 3 months to use the card before the temporary limit will be released, and there will be an interval of 3 months between applications again. If you apply for a temporary quota, you do not need to repay it. The temporary quota will be used after the available quota is used up. The temporary quota that has been used does not support installments and cannot be repaid at the minimum. It must be repaid in full at once, so in When using a temporary limit, you must ensure that you have the corresponding repayment ability. Otherwise, overdue payment will not only affect your personal credit, but also incur high interest rates. 3. Special quotas are generally only available to high-quality cardholders. They can be divided into consumption installment quotas and cash installment quotas, with a maximum of 300,000. Although credit is granted based on a comprehensive assessment of the cardholder's card usage, credit status, etc. , but it exists independently from the fixed limit, and its use will not occupy the credit card limit. Usually after the application is successful, a special account will be opened in the bank, and the repayment from the special account cannot be returned to the credit card account.