The best credit card that can offer you a $1,000 credit limit with bad credit is the Bank of America® Customized Cash Rewards Secured Credit Card ($200+ limit). However, as this is a secured credit card, you need to put down a $1,000 security deposit, which will act as your credit line. Without putting down a deposit, it will be difficult to get a credit card with such a high credit limit when you have bad credit. Most credit cards for bad credit start out with low limits in the $200-$300 range.
Ways to get a $1,000 credit limit with bad credit:
Get an unsecured credit card: An unsecured credit card for bad credit could give you a $1,000 credit limit, but it depends on just how damaged your credit is. Your income, debts and overall ability to make credit card payments are also crucial factors that determine your credit limit. Like most unsecured cards for bad credit, the Surge Credit Card starts with a $300+ credit limit. But it’s not all yours to spend right away, as you’ll owe an annual fee of $75 - $99. Many unsecured credit cards for bad credit come with high annual, one-time, and monthly fees – it’s rarely worth all the money you spend just to keep the account open.
Get a store card: Some store credit cards, such as the Fingerhut Credit Card, will start out with a low credit limit but could increase your credit limit after you make a few on-time, above-minimum payments. You can get approved for a Fingerhut Credit Card with bad credit, and it has a $0 annual fee.
Alternatives: Another way to get a $1,000 credit card limit with bad credit is to become an authorized user. When you sign on as an authorized user on someone else’s credit card, you’ll share the account’s credit limit while you rebuild your credit history. Missed payments on the account can have a negative effect on the credit scores of both the primary cardholder and the authorized user. But as an authorized user, you have the right to dispute negative information to get it removed from your credit report.
Ultimately, if you’re not in need of emergency money, and your focus is more on building your credit, get a secured credit card. Your limit on a secured card is as high as your initial deposit in most cases. Alternatively, you can also look at ways to increase your credit limit after you get approved for a card. After several months of responsible credit card use, you can request a higher credit limit yourself, or you might even be offered an automatic increase by the issuer.
The only way to get a credit card for bad credit with a $1,000 limit is to place a $1,000 security deposit on a secured credit card. The top secured credit cards are the Capital One Secured, BofA Secured, Citi Secured and Discover it Secured cards.
If a security deposit is not an option, a decent unsecured card is the Credit One Bank Visa. It starts you out with a limit of at least $300, but there's no guarantee you’ll ever see a $1,000 credit limit. Plus, the annual fee and interest rates are high. Not an attractive option in my opinion.
You’re not going to find a guaranteed approval credit card with a $1,000 limit because no credit card guarantees approval. The best you’ll be able to do is either place a deposit of $1,000 on a secured credit card or apply for an unsecured card that you are way overqualified for, which should give you good odds.… read full answer
The Chime Credit Card is one good option, for example, as it doesn’t charge an annual fee, and allows deposits of up to $10,000.
Best Credit Cards with Nearly Guaranteed Approval and the Possibility of a $1,000 Limit
It’s important to remember that no credit card really offers guaranteed approval. Secured cards have the highest approval odds because they require you to place a refundable security deposit, the amount of which matches your spending limit. But that means you won’t be able to use them for any purchases you don’t already have the money for.
Beyond that, the better your credit is, the higher your approval odds will be for unsecured credit cards. But credit cards for people with limited or fair credit may or may not offer $1,000 spending limits, so you’ll likely have to set your sights a bit higher to be sure of getting that much fire power. And that means you need really good credit for approval to be anywhere close to guaranteed.
For tips to help you get the credit needed to qualify for the best cards, check out WalletHub’s credit improvement guide. You can also get personalized recommendations for credit cards with high approval odds by signing up for a free WalletHub account.
The best way to get a $500 credit card limit with bad credit is to open a secured credit card account and put down a $500 security deposit. A secured card’s credit limit is generally equal to the amount of the deposit. Most secured cards require a refundable deposit of at least $200-$300. A bad credit score will make it difficult to get a $500 credit card limit without placing a $500 deposit.… read full answer
Ways to get a $500 credit card limit with bad credit:
As you build good credit, you may be eligible for a credit limit increase without an additional deposit. In some cases, you’ll be allowed to graduate to an unsecured card with better terms and no fees.
Alternatives: Another way to get a $500 credit card limit with bad credit is to become an authorized user. When you sign on as an authorized user on someone else’s credit card, you’ll share the account’s credit limit while you rebuild your credit history.
However, note that missed payments on the account can have a negative effect on the credit scores of both the primary cardholder and the authorized user. But as an authorized user, you have the right to dispute negative information to get it removed from your credit report.
Once you get approved, you can also look at ways to increase your credit limit. After several months of responsible credit card use, you can request a higher credit limit yourself. Alternatively, you might even be offered an automatic increase by the issuer. In addition, most secured cards also allow you to increase your credit line by adding to your refundable security deposit.
The best high limit credit card for bad credit is the Bank of America® Customized Cash Rewards Secured Credit Card ($200+ limit). “High limits” for bad credit will be very different from high limits for better credit scores, though. Most people with high credit scores looking for high-limit credit cards want $10,000+. That’s not going to be possible with credit cards for bad credit, unless you place a deposit of $10,000+ too. … read full answer
You can aim for a limit of a few hundred dollars with poor credit. But just getting approved usually is the biggest priority for people with bad scores.
The Bank of America Custom Cash Secured Card minimum credit limit is $200+. However, this is a secured credit card, so you need to put down a deposit of at least $200, which equals your credit limit. The card offers 1 - 3% cash back on purchases and has a $0 annual fee.
The Surge Credit Card credit limit is $300-$1,000. The Surge Credit Card's potential for a high starting credit limit is perhaps its most appealing feature. However, it all depends on your overall creditworthiness when you apply. Plus, cardholders have the opportunity to double their credit limit after 6 on-time minimum monthly payments. This card does not offer rewards.
The Fortiva Cash Card offers a credit limit of $350-$1,000. It is an unsecured credit card that is available to people with bad credit, and it gives 1 - 3% cash back on purchases. However, it also has a high annual fee.
The Chime Credit Card credit limit is $200-$10,000. Your spending limit equals the amount of your deposit.
With secured cards, you always have to put down a security deposit. This deposit then acts as your credit line. Secured credit cards are a popular choice for individuals with bad credit since it’s easy to get approved. In addition to easier approval, secured cards usually have lower fees as well.
In general, you likely won’t get a very high credit limit with bad credit. However, these cards are a great place to start and you can always request a credit limit increase once you’ve had your account open for at least six months.
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