I applied for a credit card in response to an offer I received in the mail. I received the interest rate and other terms in the offer, but they gave me only a $250 credit limit. How is that possible?
Card issuers usually determine your credit limit only after you apply and they can review your full credit report. Even if you qualify for the card, the card issuer generally is not required to give you a credit limit other than any minimum credit limit listed in the offer.
