Maria Adams, Credit Cards Moderator
@m_adams
The Bank of America® Unlimited Cash Rewards Secured Credit Card is the best credit card with nearly guaranteed approval that can give you a $5,000 credit limit. It accepts applicants with bad credit, and you can place a refundable security deposit of up to $5,000 for a credit limit equal to the amount you put down. The card also gives 1.5 - 2% cash back on purchases, and it has a $0 annual fee.
Best Secured Credit Cards for a $5,000 Limit
Minimum Deposit Required: $200
Ongoing Rewards: 2% cash back on all purchases for the first year, and 1.5% cash back thereafter
Regular APR: 27.74% (V)
Annual Fee: $0
Credit Score: Bad
Minimum Deposit Required: $200
Ongoing Rewards: 1.5 points per $1 spent on all purchases
Regular APR: 27.74% (V)
Annual Fee: $0
Credit Score: Bad
Minimum Deposit Required: $300
Ongoing Rewards: 5% cash back on two categories of your choice up to $2,000 each quarter, 5% back on prepaid air, hotel and car reservations booked in the Rewards Travel Center, 2% back on your choice of one everyday category like gas stations, EV charging stations, grocery stores or restaurants (discount stores/supercenters and wholesale clubs excluded) and 1% back on all other purchases
Regular APR: 28.74% (V)
Annual Fee: $0
Credit Score: Bad
Minimum Deposit Required: $200
Ongoing Rewards: 6% cash back in a category of your choice during the first year, then 3% cash back, 2% back at grocery stores and wholesale clubs (up to $2,500 in combined quarterly spending across the choice category, grocery stores, and wholesale clubs), and 1% cash back on all other purchases
Regular APR: 27.74% (V)
Annual Fee: $0
Credit Score: Bad
Minimum Deposit Required: $300
Ongoing Rewards: 3 points per $1 spent and 2 points per $1 spent on your top spend category of choice, as well as 1 point per $1 spent on all other purchases
Regular APR: 26.99% (V)
Annual Fee: $29
Credit Score: Bad
Minimum Deposit Required: $500
Ongoing Rewards: 1 point per $1 spent on all purchases
Regular APR: 13.00% - 18% (V)
Annual Fee: $0
Credit Score: Bad
In general, your chances of being approved for a $5,000 limit credit card are best if you apply for a secured credit card that allows you to deposit $5,000. The deposit acts as your spending limit, which prevents you from spending more than you can afford to repay. Secured cards don’t guarantee approval, but they’re the closest you’ll get.
It is also worth noting there are other high limit credit cards with great rewards that offer credit limits of $5,000, at a minimum, but they require at least good credit for approval. Examples include the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® card. With these types of cards, approval for an account is far from guaranteed, but if you have a high enough credit score and enough income to be approved, you should get a limit of at least $5,000.
Isabella Clark, Member
@izzy_clark
Guaranteed approval and a $5k limit with bad credit is like finding a unicorn. The closest you’ll get is a secured card where you deposit $5k yourself (e.g., US Bank or BofA secured cards). If you happen to have good credit, cards like Chase Sapphire Preferred/Reserve guarantee a $5k+ limit if you get approved. But you’re not guaranteed to get approved.
Daniel Wright, Member
@dwright_dev
LOL at this question. A secured card with a $5k deposit is your best bet, but even that’s not guaranteed.
CC Brooks, Member
@chloe_b_style
Agree with Daniel. You’ll need to improve your credit score to get a real $5k limit.
People also ask
What credit score is needed for a $5,000 card?
A credit score of 700 or better is typically needed for a card that offers a $5,000 credit limit. This means that these cards usually require you to have good or excellent credit. You will normally need a high income and little to no existing debt to get a limit that high, too.
It’s worth noting that, even if you have bad credit, there's still a possibility to get a $5,000 limit. In this case, you...
read full answer by Maria Adams, Credit Cards ModeratorWhat's the best high limit secured credit card?
The best high limit secured credit card is the NIH Federal Credit Union Platinum Secured Card because you can get a limit of up to $25,000 with a matching security deposit and there’s no annual fee. Plus, anyone can qualify for credit union membership by joining the American Consumer Council for free. You need bad credit to qualify for the card.
Best High Limit Secured Credit Cards
At the end of the day, there are plenty of...
read full answer by Maria Adams, Credit Cards ModeratorCan I get a credit card with a $5,000 limit?
You can get a credit card with a $5,000 limit if you have good to excellent credit, a high income and minimal debt. For example, the Chase Sapphire Preferred® Card is a premium card that offers a credit limit of $5,000 or higher.
Even if your credit score is at the low end, there still is a possibility to get a $5,000 limit. In this case, you will probably have to apply for a secured credit card that...
read full answer by Maria Adams, Credit Cards ModeratorDid we answer your question?
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