Yes, a $2,000 credit limit is ok, if you take into consideration that the median credit line is $5,394, according to TransUnion data from 2021.
Here’s what determines your credit limit:
Credit limits are determined by a variety of different factors, with the two most important being your credit history and disposable income. Different generations also have drastically different average credit card limits. In general, the older people are, the higher their average credit limits tend to be.
Ultimately, there are ways to increase your spending power. You can find out more about it by reading our editors’ tips on how to increase your credit limit.
This answer was first published on 05/10/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
