Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

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

Sagot :

GinnyAnswer

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


Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.