How does a credit limit work, I just got my first credit card?
Credit Score Articles August 4th. 2009, 8:55am
I just got my first credit card and it has a ,500 limit on it. I have charged ,225 on it. I will only be able to pay the minimum payment this bill cycle of . Though I should be able to pay it off in full by late September. In the mean time I need to pay some bills. Will I get a ,500 credit limit the following cycle or just the remaining 5 until I pay the bill?