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How do credit card limits affect my credit score?

Your credit limit is the maximum amount of money you can charge to a credit card before you face a penalty. A credit limit may also be known as a line of credit, credit line or spending limit. However it is referred to, the higher your credit limit, the more overall credit you have to rely on.

What is the highest credit card limit available?

The high limit allows you to concentrate your attention and money on paying down all your credit card debt using a single balance transfer card. Research indicates the Bank of America® Unlimited Cash Rewards credit card offers the highest credit limit — $95,000 — among balance transfer cards.

How is a credit card limit determined?

Your credit limit is calculated in one of three ways. In some cases, you’re offered a predetermined credit limit. In other cases, your credit limit is based on your credit history and credit score.

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