Credit Limit

The maximum amount you get to charge or use on a loan or credit account. (Check out the full deal here.)

For example, if you have a $10,000 line of credit or credit card, you can't spend $20,000 on a trip to Vegas. Sorry. You might be able to go on a smaller trip to Atlantic City, but once you hit that $10,000, the party's over until you pay some of that money back.