ThatBoroFan: I never heard that saying before, but I assume they maxed out the credit limit on the credit card, or spent all their money in their bank account with the debit card.
I assume you mean to "max out" a credit card, which means you have charged so much on your card that you have reached your account limit. You would not be able to make additional charges until you pay down the balance.
It means they have their metaphors confused.
you spend all you have in your account