Do credit cards reduce the amount of loan available? | Ask Banky

Editor-in-Chief Mohamed Salah

ع

Editor-in-Chief Mohamed Salah

Do credit cards reduce the amount of loan available?

Asked by Banky team 2 months ago 2 views
Banky team Reviewed editorial answer

It's possible, because your credit card limits and existing obligations are factored into assessing your ability to take out a new loan.

The bank looks at the complete credit picture, not just the new payment.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

Source

Discussion

Join the discussion

Sign in to add your comment or reply to other readers.