The best $500 limit credit card is the Citi® Double Cash Card. In addition to a spending limit of at least $500, you’ll get 2% cash back on all your purchases, no matter what they are. And on top of that, there’s a $0 annual fee.
If you’d rather focus on financing than rewards, the Citi Simplicity® Card - No Late Fees Ever also offers a $500+ limit, plus 0% intro APR for 18 months on purchases and 0% for 18 months on balance transfers.
There are $500 limit credit cards for nearly every credit level. For example, if you’re in college, you can get a limit of at least $500 from Discover it® Student Cash Back. And if you have the good credit needed to get approved for Chase Freedom Flex℠, you’re only guaranteed a spending limit of $500+.
Here are the best $500 limit credit cards:
The Citi® Double Cash Card is probably the best card you can get with a $500 limit. It gives 2% cash back on all purchases (1% when you buy and 1% when you pay it off). On top of that, there’s a 0% APR for 18 months on balance transfers (3% (min $5) transfer fee). The card has a $0 annual fee and you need good credit to get it.
The Citi Simplicity® Card - No Late Fees Ever is another good choice for financing, giving 0% APR on purchases for 18 months and 0% for 18 months on balance transfers (3% (min $5) transfer fee). It never charges late fees or a penalty rate. And there’s a $0 annual fee. You need good credit for approval.
Even students can get a credit card with a $500 limit: The Discover it® Student Cash Back card. It gives up to 1 - 5% cash back on purchases, doubles your rewards the first year, and has good-grades bonuses.
It’s good to note that $500 is just the minimum credit limit on these cards. If your credit score and income are high, and your debt is low, you can qualify for a higher starting limit. And you can always ask for credit limit increases over time.