I am using google analytics reporting api, from API Limits and Quotas I get the quota as below:
50,000 requests per project per day, which can be increased.
10 queries per second (QPS) per IP.
Is this quota for free? From my developer console, i got reminder.

I don't understand what's the $300 in credit mean. Dose it mean i need to pay $300 after my free trail? Thanks