The easiest way you can check your credit card’s available credit is through your online or mobile account. Alternatively, you can find your available credit by calling the customer service number you see on the back of your credit card or on your monthly account statement.
Here’s how to check your credit card’s available credit:
Online: You can find your available credit by logging in to your online or mobile banking account. Creating an account only takes a few minutes if you haven't already signed up.
Phone: To check your card’s available credit over the phone, call customer service at the number you see on the back of your card and follow the prompts.
Billing statement: Your available credit will also be included in your billing statement, along with your credit limit and credit card balance.
Keep in mind that if you’ve made any payments or purchases since your last billing statement was mailed, the available credit shown there won't be current. So, checking online or over the phone are the most reliable ways to keep track of your most up-to-date available credit.
Available credit is calculated by subtracting your current balance from your overall credit limit. Your current balance might consist of:
So if your overall credit limit is $1,000, and your current balance is made up of $450 in purchases, $20 in fees, and $30 in interest, your available credit will be $500:… read full answer
$1,000 – ($450 + $20 + $30) = $500
It’s important to always be aware of your available credit, so you don’t max out your credit card. In case you’re trying to spend more credit than what’s available to you, your card might get declined.
To find your card’s available credit, sign in to your online or mobile banking account, or check your monthly statement.
Available credit is the remaining amount of your credit card’s credit line that you haven’t spent yet. You can find your available credit on your monthly account statement or by logging in to your online credit card account. It’s important to be aware of how much available credit you have because if you try to spend more than that amount, your card may be … read full answerdeclined.
To calculate your available credit, the card issuer starts with your full credit limit. Then, your current balance – i.e. the amounts of any purchases, fees, and interest you currently owe, minus any payments you’ve made toward your balance – is subtracted from your credit limit. This leaves your available credit.
Here’s an easier way to visualize available credit:
Credit Limit – Current Balance = Available Credit
Available credit isn’t only calculated once a month, of course. It changes every time your current balance changes. For example, when you make a payment on your credit card, your available credit increases. When you make a purchase with your card, your available credit will decrease.
It’s worth noting that the less available credit you have, the higher your credit utilization on that credit card will be. And if your credit utilization stays high, that can spell bad news for your credit score. Make sure to keep your overall credit utilization below 30% to maintain your credit standing.
If you go over your credit limit, your credit card company may add the over-limit amount to your minimum payment, lower your credit line, or even close the account if you’re exceeding the limit too often. Also, your credit score will drop if the balance is still over the limit when reported to the credit bureaus. That said, it’s more likely that the card’s issuer will simply decline any transaction that would result in the balance exceeding the credit limit.… read full answer
Key Things to Know About Going Over Your Credit Limit
Opt-In Requirement for Fees.
The only time credit card issuers can charge an over-limit fee is when a cardholder has opted in for the ability to exceed their credit limit.
Other Fee Limitations.
Even when you’ve given your credit card company permission to authorize over-limit charges, a card issuer can only assess one over-limit fee per billing cycle, and that fee cannot exceed the amount by which you’ve gone over the limit.
Declined Transactions are Increasingly Common.
Ever since the CARD Act of 2009, which created these over-limit rules, most card issuers have stopped charging over-limit fees. Instead, they often just decline transactions that would go over your limit.
High Credit Utilization is Bad for Your Credit Score.
Credit utilization accounts for about 20% of your overall credit score. To avoid reaching your card’s credit limit and risking significant damage to your credit score, consider paying down your balance more often, applying for a new line of credit, or asking your card’s issuer for a credit limit increase.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.