Hey everyone I am a new user of chatGPT, is there a 5 USD limit to using the API key

Like in the title in this section of platform of OpenAI website in the link below
https://platform.openai.com/usage

It shows that the limit of using the API is 5 USD, and to increase it is showing that I need to be on the paid tier. What does this paid tier mean? Do I need to pay for chatgpt plus and also pay for the api usage to get access to modify my api usage which is as per the token count. I am a little confused because there are so many factors as how the pricing is occurring. I need to know if there is way to simplify and understand everything in one go. That will also be helpful because I need a reference for pricing that I understood properly so I don’t get surprised when I see my billing.

Welcome to the Forum!

ChatGPT and the API are two different products, which are treated differently from a billing perspective.

Even if you have a ChatGPT Plus subscription, you still need to fund your API account separately. For most users, API billing is in the form of pre-paid billing. A minimum of USD 5 in credits must be added to the account in order to start using the API.

You can find the pricing for each model here:
https://openai.com/api/pricing/

I hope this helps to get started and let us know if you have any more specific questions.