Using a credit card will put you in debt, but knowing your limits and how to use credit cards accurately will make you able to pay your credit card expenses while enjoying the rewards/benefits. The majority of credit card holders do feel like they can purchase anything they want, which is a common mistake, especially for new credit card holders.
If only most credit card users know how to handle their usage of their credit cards they won't think that way. Having a huge debt is their own mistake for spending over their budget, instead of identifying first the limit of their capability to pay the credit cards, they tend to purchase more than they can pay.
It’s better to use a card that doesn’t have an available credit limit, this will save you from a lot of problems. And this is not as difficult as it might seem, you simply reduce your credit limit to zero, or better yet, open a card at the bank on which the credit function is not available. Then you will add some amount to the card and use only your available money. And if you allow uncontrolled spending of money, especially credit, for which you will still have to pay interest, then this will only be unnecessary additional expenses.If only most credit card users know how to handle their usage of their credit cards they won't think that way. Having a huge debt is their own mistake for spending over their budget, instead of identifying first the limit of their capability to pay the credit cards, they tend to purchase more than they can pay.
In our country credit cards have a credit limit, however, some do not have a limit (unlimited) if they are approved with a black card. This is the first time I heard about a credit card with no limit and only uses your available money. If a function like this is available, better to apply and use this to avoid overspending.
If this one really exist then for sure it is really just to those elites who are really that eligible on holding that card and its not something that ordinary person could get a hold of.
For credit cards then the banks would really be deciding on how much credit limit that they are putting and we know that you are really that giving out those income information and other related stuffs
and they are the ones who would really be putting up those limits and of course they cant really just give out some limits if they do see that you arent that qualified for that.
Banks are smart they cant just give out so easily if you cant be able to repay it on time on the moment you had reached our your max limit.
Debit card is different literally on which it would really be that basing on the money that you had saved up into that account.
So it would really be understandable on how much you could only spend.
Now, when it comes to credit cards, banks are indeed the gatekeepers of credit limits. I know this because I've dealt with these institutions extensively. They scrutinize your income, your financial habits, your credit history before they assign you a limit. They're not in the business of handing out free money. They want to know, can you repay what you borrow? If the answer is uncertain, they'll tighten the reins. It's not personal; it's prudent economics
As for debit cards, they're different . They're tied directly to your money, your savings, your financial reservoir. The limit is what you have; it's your money, after all. It's straightforward, no illusions of extra wealth. It's a reflection of your financial discipline, how much you've saved, not how much credit a bank deems you're worthy of. It's a practical tool for practical spending, nothing more, nothing less
