The SoFi Credit Card credit limit is $1,000 or more. Everyone who gets approved for SoFi Credit Card is guaranteed a credit limit of at least $1,000, and particularly creditworthy applicants could get limits a lot higher than that. The higher an applicant’s credit score and income are, the higher the starting credit limit is likely to be.
The SoFi Credit Card credit limit that you start with isn’t necessarily your credit line forever. You can ask to get a credit limit increase by calling the SoFi customer service number on the back of your card, but it’s best not to ask more than once a year.
The SoFi Credit Card is not a metal credit card, as it is made of plastic like most other credit cards. There’s no functional difference between a plastic card like the SoFi Credit Card and a metal credit card, though, so don’t dismiss the SoFi Credit Card just because it isn’t metal. If you like the card’s terms and benefits, you should still consider applying.… read full answer
The SoFi Credit Card reports to the credit bureaus monthly, within days after the end of a cardholder’s monthly billing period. The SoFi Credit Card reports the card’s credit limit, account balance, payment history, and more to all three of the major credit bureaus: Experian, TransUnion, and Equifax. SoFi may use a specific credit bureau more than another, depending on the applicant’s home state, and other factors.… read full answer
Once the SoFi Credit Card reports your account information to a credit bureau, it may take a few days before the updates appear on your credit report. New SoFi Credit Card cardholders may not see any new credit account info on their credit report for one or two billing periods after getting a card.
To get approved for a high limit credit card, you will need good to excellent credit and proof that you can afford a high spending limit. More specifically, your credit limit will be determined by several factors, including your income, assets, and existing debt obligations. Picking the right credit card goes a long way, too.… read full answer
How to Get Approved for a High Limit Credit Card
Apply for a credit card with a high starting limit: Top-notch credit cards such as the Chase Sapphire Preferred® Card typically offer credit limits starting at $5,000. You may find minimum starting credit limits listed in some cards’ terms and conditions. In other cases, you might be able to get some information from cardholders’ reviews.
Increase your income and reduce your debt: The higher your income is, the better chance you have of getting a new card with a high initial credit limit. Similarly, reducing your debt boosts your odds. Also, if your income goes up in the future, be sure to update your credit card’s information, as this could help get you a higher credit limit.
Get a credit limit increase: Some credit card issuers may automatically review your account for a credit limit increase every 6 to 12 months, but it’s not guaranteed. You can also request a credit limit increase, either online or by calling the issuer’s customer service department. Keep in mind that requesting a credit limit increase on your own may result in a hard inquiry, which could hurt your credit score.
Ultimately, to have a better chance at getting approved for a high limit credit card, you should also make sure to always pay bills on time, use 30% or less of your available credit, and otherwise make good financial decisions.
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