Maxed out

Posted by Bob June 17, 2004In reply to Maxed out posted by celeste on June 17, 2004

This phrase in the sentence: I have a $1000 limit on my credit card, and I've already spent $950, so I am almost maxed out.
What's the exact definition here?
Thanks

Maxed out = have spent almost to my maximum permitted, and cannot spend more.