Floor Limit

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Dictionary Says

Definition of 'Floor Limit'

A purchase amount over which further authorization is needed by the merchant. The floor limit is a predetermined limit set by the merchant and the creditor.
Investopedia Says

Investopedia explains 'Floor Limit'

The term originates from when most credit card transactions were done manually rather than electronically. It was a way to ensure that the credit was available to the consumer before the transaction was completed.

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