Title: Glossary of terms - Banking [1]
Category: full of life
Blog Entry: Do you know the difference between Cash Limit and Credit Limit?
We all deal with banks in a direct or indirect way in our day to day daily life.
And Credit Cards have concurred a bit part of out money.
While I was reading business news, I got confused with following 2 terms.
Cash Limit
Credit Limit
It’s pretty simple, but there can be some who gets confused, like me!!!
Well, to start with both are CREDIT CARD related terms.
Cash Limit means:
The maximum amount of cash that your CREDIT CARD allows you to WITHDRAW from an ATM.
Credit Limit means:
The maximum amount which is ALLOWED by your bank to spend (cash advance + sales transactions + any financial charges + any fees) on your CREDIT CARD.
Hum... Hope it’s pretty clear now.
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