Understanding your limits with IO can be complex because there are two limits you need to be mindful of:

1. IO Account Limit - this is the amount you can borrow across your IO account, including all the physical and virtual IO Cards assigned to you and your team members. This is set by our Underwriting policies.
2. IO Card Limit - this is the daily or monthly limit any individual card can spend. Maximum card limits are determined by your history with Mercury, but the card limit itself is set by the cardholder. 

These two limit types are not always the same, but the IO Account Limit is the more important of the two. This is because regardless of what your card limit is, you can only spend as much as you have left to borrow. 

For example your IO Account Limit could be $10k, and you have 3 team members with an IO card, including yourself. Each individual IO card may have a maximum daily spending of $5k. However, even though cumulatively you and your team can spend $15k per day based on cards, you can only actually borrow up to $10k at a time. 

It is also important to note that, depending on your Mercury history, you may be able to set a maximum daily IO Card Limit higher than your IO Account Limit. 

If you have any questions about your limits please reach out to us at support@mercury.com