Does this mean i have this much money to apply for as credit?|||is it the total of your available balances on credit cards/lines of credit you have open?|||The available credit is sum of the limits that each lender has set you. On your credit cards and store cards, it means you can spend that much.
On loans, it is the amount of the loan that you took out. You would need to apply for a new loan to get that money.
Any settled accounts will be excluded from that total, so loans you've repaid or credit cards you've cancelled.
The total often bears no relation to what you could afford to repay, especially if you have lots of cards. On my report it says I have available credit of 1陆x my annual salary. I'd be bankrupt if I tried to use it. That's also why I don't include my wife on my credit cards!
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