If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card in the upcoming month

Respuesta :

The largest amount you can charge on that card in the upcoming month will be $725 ($800 - $75) because credit limit are not given on monthly basis, rather, they are granted only once.

Let understand that the Credit card is a bank issued card which grants a bank-account owner the privilege to withdraw on credit with expectation of repaying such money with additional charges.

Here, the credit limit given by the bank is $800, and he has an Outstanding balance of $725 which means he has only withdrew a credit of $75.

So, the largest amount you can charge on that card in the upcoming month will be $725 ($800 - $75) because credit limit are not given on monthly basis, rather, they are granted only once.

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