A loan taken against your credit card limit is known as a loan on credit card. To get a credit card loan, the cardholder should have an excellent credit history and a good repayment history. A credit card is one of the best options if you are in urgent need of cash as banks are ready to give you loans against your credit card. You have the option to take a loan against the credit limit available on your card. When your application gets approved by the bank, the limit will be credited to your account. You can repay the loan in installments at a specific interest rate offered by banks.