why does a credit limit matter 
a credit limit matters because it dictates how much money you can access to pay for expenses you need to know your credit limit when you make purchases so you do not go over the limit and incur fees a merchant in that situation may also refuse to accept your card in addition your collective credit limits can impact your credit score which is based in part on how much of your available credit you are using at any given time the bottom linecredit limits can play a key role in your financial picture and they are different for each person and for each financial product if you use your credit according to your lender s terms and avoid exceeding or even coming too close to your limits you are more likely to establish a good credit history which can open up other financial opportunities 