Common use of Credit Limits Clause in Contracts

Credit Limits. You will be notified of Your specific Credit Limit for transactions made under Your Account. Unless You are in default, Your Credit Limit will be self-replenishing as You make payments on Your Account. You will keep Your unpaid balance within Your Credit Limit, and You will pay any amount over Your Credit Limit on Our demand whether or not We authorize the advance which caused You to exceed Your Credit Limit. Even if Your unpaid balance is less than Your Credit Limit, You will have no credit available during any time that any aspect of Your Account is in default.