Credit limit
Your credit limit is the maximum balance an issuer lets you carry on a credit card. On a secured card, the limit usually equals your refundable deposit.
Why it matters
The limit is the denominator of your credit utilization (balance divided by limit). Utilization is an important part of the amounts-owed category, which makes up about 30% of a FICO score in FICO's published weights, so a higher limit makes it easier to keep utilization low.
Example
A $300 balance on a $1,000 limit is 30% utilization; raise the limit to $2,000 with the same balance and utilization drops to 15% without spending any less. You can ask your issuer for an increase (ask whether they can do it without a hard inquiry).
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Educational only — not financial advice. No guarantees.