The maximum amount that can be charged on the credit card is known as the credit limit. Credit Limit is the upper amount of credit extended to a customer while using his/her credit card. Generally, the amount is arrived at by the Card Issuers basis the credit history of the customer. They are usually given a credit period of 30-45 days. i.e for the purchases they do between. 01st and 30th of every month, the bill needs to be paid on the 15 th of the succeeding month.