Common use of MAXIMUM AMOUNT OF CREDIT Clause in Contracts

MAXIMUM AMOUNT OF CREDIT. Any use of credit established in Section 2 is subject to a credit limit, which is indicated on the document to which your card is attached at the time of receipt and on your account statement. Either limit may be increased, at the discretion of Desjardins, upon request from the cardholder, or decreased if Desjardins deems it appropriate after analyzing the cardholder’s file. Any cash advance, cheque or purchase which results in the applicable credit limit being exceeded shall in no way be regarded as a request to increase the credit limit. Any cash advance, cheque or regular purchase that results in your credit limit being exceeded may be temporarily authorized by Desjardins, without any obligation on its part, and cannot, in any case, be regarded as a request to increase your credit limit, nor can it result in such an increase of your credit limit. The cardholder is liable for the entire balance, whether or not it exceeds the credit limit. The cardholder agrees to repay forthwith on demand any amount that exceeds the credit limit.