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Legal Terms - credit limit
1. The maximum credit amount that a debtor is permitted. 2. The maximum debit balance permitted on a running-account credit agreement for any given length of time (as defined by the Consumer Credit Act of 1974).
1. The maximum credit amount that a debtor is permitted. 2. The maximum debit balance permitted on a running-account credit agreement for any given length of time (as defined by the Consumer Credit Act of 1974).
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