What is Overlimit?
Overlimit A status indicating a credit or loan account has exceeded its approved credit limit, potentially incurring fees and regulatory action according to card or credit agreements.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Overlimit” Used in Practice?
An overlimit fee may be charged when a cardholder's spending exceeds the preset credit limit, as specified in the card agreement.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Overlimit?
A status indicating a credit or loan account has exceeded its approved credit limit, potentially incurring fees and regulatory action according to card or credit agreements.
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