Why is my available credit on my credit card less than my credit limit?

Here's what I mean: say, for example, our credit limit is $5K. We have spent $4,200 as of today. Yet apparently our current available credit is $99. Why is this? I don't get it.|||have you made some other purchases that havent shown up on the credit card statement? that might be why. also, some companies put a hold on some purchases with a set amount until the actual charge goes thru and then that drops off. not sure if thats legal, but that's what has happened to me...especially at gas stations.|||There might be holds on the card.





If you use it at gas pumps or anyplace else that automatically puts a hold on the card (regardless of the actual amount purchased) it can sometimes lock up your available credit.





$99 vs. $800 is a pretty large discrepancy though - you should probably contact your credit card company.





And then start paying down that $4200 balance as fast as possible. Even if you have a good interest rate (although I wouldn't be surprised if it were around 22-23% or more), you are probably getting raped.|||The difference between the credit limit and the credit available is usually "pending" transactions, that is, charges that have received an approval code, but have not yet come in for processing.|||If you make a rental on car, they hold a large amount.








the other thing is gas purchase. they may hold up to one week.