Credit cards have a limit to spend. This limit is the amount of money that the credit card company allows you to spend.
When you buy something, your available credit is reduced by the same amount. When you pay an invoice this limit is released.
For example, if you have an approved limit of $2,500.00 and make a purchase of $1,000.00 in 4 payment installments, you will have $1,500.00 available to spend on the credit card after that purchase. Remember that the limit consumed refers to the total value of the purchase and not to the value of the payment installments.
When you pay the invoice of $250.00 referring to those installments, your available limit will be $1,750.00. In other words, the amount of the paid invoice comes back as a limit to the credit card.
With this Mobills feature, you will always know how much you have available on your credit card!
Do you have any doubts? Send us an e-mail! We are here to help! [email protected]