Low Limit Credit Cards to Rebuild Credit

However, despite their predominance and the fact that this type of credit has existed for more than five centuries, credit cards are still widespread. By September 2017 alone, British banking institutions have written off a stunning 361 million pounds of credit cards debts, and the country's total indebtedness shows no signs of deceleration - together we owe a whopping 16 billion pounds by October 2017.

Keeping these clear numbers in the back of your head, the first thing to do to avoid credit crunching is to understand your limit - which we describe in this guideline. Which is a credit limit? Credit limit on a credit is a number in books that you can use up to issue.

It is the limit on the credit line the cardholder is willing to grant. In the course of a settlement interval (e.g.