Cryptocurrency Q&A
How does a bank or credit card company decide how much money you can borrow?
How does a bank or credit card company decide how much money you can borrow?
Fri Jan 10 2025
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5 answers
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I want to know how banks or credit card companies assess and determine the borrowing limit for customers. What factors do they consider when deciding how much money one can borrow?
5 answers
Sun Jan 12 2025
Companies often assess an individual's creditworthiness by examining their credit report and gross annual income level.
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Sun Jan 12 2025
This information helps them determine the appropriate credit limit for the applicant.
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Sun Jan 12 2025
Various factors are taken into account during this assessment, including the applicant's repayment history.
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Sun Jan 12 2025
The length of the applicant's credit history is also a significant consideration.
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Sat Jan 11 2025
Additionally, the number of credit accounts listed on the applicant's report can impact the decision.
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