If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card in the upcoming month?

$0

$725

$75

$800

Question

Business

Scoobie

22 December, 01:41

If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card in the upcoming month?

$0

$725

$75

$800

+4

Answers (1)

Know the Answer?

Wendy Hale · Answer 1

The correct answer is letter "C": $75.

Explanation:

The outstanding balance in a credit card represents the amount of money the account holder used out of the credit limit of the card. It also represents the debt the cardholder has with the financial institution that issued the card. The full credit limit will be available once the outstanding balance is paid off.

Thus, if the credit limit of a card is $800 and its outstanding balance is $725, the account holder can use $75 ($800-$725 = $75) for the upcoming month.

If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card in the upcoming month?$0$725$75$800

If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card in the upcoming month?

$0

$725

$75

$800