If your application for a credit card or other type of loan is approved, the total amount you can borrow will vary. There are a number of factors the lender will look at in deciding the amount or limit of the loan. The information on your credit report, your income, employment history, the value of your assets etc.

Once you prove yourself over time that you can handle credit responsibly, you will be able to shop around for better interest rates and loans with no annual fees.