C
Credit
Credit Limit
The maximum amount a lender says you can borrow on a credit card, store account, or overdraft. They set this based on what they think you can afford. Go over it and you'll get charged a fee (usually R100-200) and your interest rate goes up. Banks love quietly raising your limit to tempt you into overspending.
Usage Examples
"Nomsa's FNB credit card has a R25,000 limit. Her gross salary is R35,000, so FNB's algorithm said that's fair. She keeps her spending under 30% to maintain her score."
"Thabo's Woolworths limit got hiked from R8,000 to R18,000 out of nowhere. He felt rich for five minutes, then spent it all, then realised he'd buried himself."
"Zanele called Capitec and asked for a limit increase. They gave it to her, which actually helped her credit score because she'd have the same debt spread across a higher available limit."