zyrhenzdelacruz01 zyrhenzdelacruz01

23-06-2024
Business

Answered

11. Which of the following has an impact on the amount you're allowed to borrow for a credit card?

A. Debt to income ratio
B. Amount of money in your bank
C. Credit score and annual income
D. Equity in your home

Answer :

GinnyAnswer GinnyAnswer

23-06-2024

Final answer:

Debt to income ratio, credit score, and annual income significantly influence credit card borrowing limits.

Explanation:

Debt to income ratio is one of the key factors that impact the amount you're allowed to borrow for a credit card. Lenders assess this ratio to determine your ability to manage monthly debt payments. Credit score and annual income also play crucial roles in determining your credit limit. Having a high equity in your home may enable you to borrow more but for a specific type of loan, not necessarily a credit card.

Learn more about Credit card borrowing limits here:

https://brainly.com/question/42016024

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