I believed one can draw as much money as needed using his or her credit card but my father laughed at it and said of course not. There is a limit set for credit card holders and beyond that limit he cannot spend any money. I did not know much about credit cards so I asked him more about it and he explained card limit meaning and also how to know about the available cash limit in credit card. Let me share these details so that you understand everything about it.
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What is meant by available cash limit in credit card?
Credit cash limit refers to the maximum cash one can withdraw using his or her credit card from the bank’s ATM. The limit is set by the bank beyond which the cardholder is not able to draw money and the repaying time limit is also set by the bank only.
What is available cash limit in HDFC credit card?
Cash limit is set by the bank and it may differ from one bank to another. In HDFC bank, they offer a cash advance limit of 40%. For example if your credit card limit is Rs 1 lakh, you can withdraw money up to Rs 40,000.
What is available cash limit in ICICI credit card?
For ICICI bank, it is stated that a credit card holder can use 20% of the credit limit. So if your credit card limit is Rs 1 lakh, your withdrawal limit is Rs 20,000.
I hope the concept of available cash limit in credit card is clear to you now.
Read More:What is cash advance fee in credit card?
What is add on credit card?
How to renew HDFC credit card?
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What is Meant by Available Cash Limit in Credit Card?
Soumyajit
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3 Year
2022-08-23T16:50:34+00:00 2022-08-31T13:20:28+00:00Comment
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