What is the current balance of a credit card? What is the difference between the available credit and the current balance?
2007-07-18 08:20:41 · 17 answers · asked by Julie C 1 in Business & Finance ➔ Credit
The current balance is how much you owe, including purchases, balance transfers, and fees/finance charges. Available credit is the difference between your credit limit and your current balance.
For example:
Credit limit = $1,000
Current balance = $625
Available credit = $375
2007-07-18 08:59:59 · answer #1 · answered by jll1881 3 · 11⤊ 0⤋
Credit Card Balance Definition
2016-12-10 14:44:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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RE:
What does Current Balance on a credit card mean?
What is the current balance of a credit card? What is the difference between the available credit and the current balance?
2015-08-10 05:29:22 · answer #3 · answered by ? 1 · 1⤊ 0⤋
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2016-04-14 16:47:42 · answer #4 · answered by Jody 3 · 0⤊ 1⤋
What Does Current Balance Mean
2016-10-07 08:05:21 · answer #5 · answered by ? 4 · 0⤊ 0⤋
The current balance is how much you owe.
The available credit is the difference in your maximum available and your current balance.
In other words, if you have a card with a $1000 limit and your current balance is $250, then your available credit is $750.
2007-07-18 08:25:56 · answer #6 · answered by mister_galager 5 · 2⤊ 0⤋
first there is two types of current balances -- 1 when you get you bill the current balance is the amount of money you owe the company on the closing date - it of course does not have any credits that might be due after the closing balance -- to get you true current balance you have to call your credit card company. all credit cards have a credit limit. available credit is the amount of money you have when you deduct your current balance from your credit limit.
2007-07-18 08:40:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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Current balance doesn't include authorization holds on your credit card, nor does it include pending transactions. Credit Limit minus balance minus pending transactions minus authorization holds = credit available. In some cases you may have a different credit limit for cash advances on your credit card than your general limit (for purchases). Your current balance is the sum of the charges you have made plus any interest and fees that have accumulated.
2016-04-04 04:16:07 · answer #8 · answered by Sheryl 4 · 0⤊ 0⤋
But my credit limit is 1000 and available credit is 1000 and I keep seeing that the current balance is 700 that is why I am confused
2015-10-05 06:51:21 · answer #9 · answered by hanan 1 · 1⤊ 0⤋
cash advances + purchases + fees/interest = current balance. Credit limit - current balance = available credit.
2007-07-18 08:24:28 · answer #10 · answered by cardinalboy97 3 · 0⤊ 0⤋