The best rewards credit card for excellent credit is the Capital One Venture X Rewards Credit Card because it offers 75,000 miles for spending $4,000 in the first 3 months. Cardholders also get 2 - 10 miles per $1 spent on purchases. The card offers many other worthwhile benefits, too, such as cell phone protection, access to over 1,400 airport lounges, and reimbursement for Global Entry or TSA PreCheck fees. Capital One Venture X does charge a substantial annual fee ($395), though paying it might be well worth it given the card’s lucrative rewards.
The best credit card for an 800 credit score is Capital One Venture X because it offers an initial bonus of 75,000 miles for spending $4,000 in the first 3 months, as well as 2 - 10 miles per $1 spent on purchases. The card charges a $395 annual fee but has plenty of perks to make up for it.
An 800 credit score is considered excellent credit, which means you can qualify for the best credit card offers on the market. But it’s important to note that simply having excellent credit does not guarantee approval. You must still meet other underwriting requirements, such as having enough income to afford a new credit line.
The credit limit you can get with a 750 credit score is likely in the $1,000-$15,000 range, but a higher limit is possible. The reason for the big range is that credit limits aren’t solely determined by your credit score. They are largely based on your annual income, existing debt and other payment obligations, along with your personal credit history.… read full answer
As part of assessing your risk as a borrower, card issuers look at your credit report to gain insight into how you’ve handled credit in the past. They also look at your income and your current obligations to decide what limit you can afford. Limits can vary depending on which credit card you’re applying for, too.
If you want to estimate what kind of credit limit you’ll get, you should start with your income. If the card issuer requires a monthly payment of 5% of your balance, and your disposable monthly income is $500, you could get a credit limit in the $10,000 range ($500 / 5% = $10,000). So while your credit score may get you approved for the card, it isn’t the ultimate factor in what credit limit you’ll get.
Your credit limit should be at least 3 times higher than your usual monthly spending. That's because your overall credit utilization ratio should stay below 30%. If your spending exceeds that, you risk damaging your credit score. That's why it's important to know what credit cards usually offer as a credit limit before applying for one.… read full answer
Credit card limits can be as low as $200. However, some high credit limit credit cards can offer limits starting with $5,000 and upwards of $10,000. These will generally be available only to applicants with good or excellent credit, and a high enough income to afford payments. On the other side of the spectrum, high limit secured credit cards are open to applicants with bad credit, as they allow higher-than-average security deposits that establish credit limits and serve as collateral.
How to manage your credit limits and spending
Whenever your spending habits change and your credit utilization ratio grows, you should request a credit limit increase, or apply for a new credit card. Your credit utilization accounts for roughly 30% of your credit score, so both are viable options if your credit card spending goes up. In addition to a higher credit limit, a new credit card can also come with advantages like extra rewards and better rates. It also enables you to adopt the Island Approach and compartmentalize the use of your cards to maximize rewards and minimize finance charges.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.