Which of the following actions characterizes a lien?

A lien is a legal claim or right against an asset that is typically used as collateral to secure the payment of a debt. When a debt is secured by property, it gives the lender the right to take possession of the property if the borrower fails to meet the obligations of the loan. This action directly reflects the concept of a lien, as it involves a borrower using their property as security for a debt obligation, thereby allowing the lender to enforce their rights against that property in case of default.

The other options represent actions that do not establish a legal claim on property. Borrowing more money on a property may involve a lien, but simply borrowing does not characterize the existence of a lien without the specific context of securing a debt. Increasing a credit limit or applying for a new credit card concerns credit provision and utilization but does not relate to the concept of an asset being tied up as collateral, which is central to the definition of a lien.