The Chase Freedom Unlimited credit limit is $500 or more for everyone who’s approved. The most creditworthy applicants can get starting credit limits of $5,000 or higher. Chase Freedom Unlimited cardholders who start with a limit of at least $5,000 get the Visa Signature version of the card instead of a Visa Platinum card. Signature cards come with a few more supplemental benefits from Visa.
Chase doesn’t publicly disclose a maximum credit limit for the Chase Freedom Unlimited card. But some customers have said that they have received limits of $20,000 or higher. If you want a limit that high, you’ll need spotless credit, a very high income to afford the payments and low existing debt. Just keep in mind that no matter what limit you get, it’s not permanent. You can ask Chase for a Chase Freedom Unlimited credit limit increase by calling the number on the back of your card. It’s best to try that after at least half a year of on time bill payments.
The average first credit card limit is around $1,800, according to Experian. That’s based on a credit score of 300 to 499, which is the starting point for someone with little or no credit. When you start out with credit, it’s perfectly normal for your first credit card to have a small credit limit.… read full answer
Getting approved for a first credit can be difficult if you have little or no credit history. If you qualify for a card, you may end up being disappointed with your starting credit limit. That’s because your credit history is one of, if not the key factor that goes into extending an applicant’s credit limit.
As a new cardholder, you probably don’t have a history of using credit responsibly. Therefore, your issuer doesn’t have much to go on, so they’ll usually start you off with a small credit limit. If you’re applying for your first card with a mortgage or car payment under your belt, you may be extended a more generous credit limit, provided you’ve managed those accounts responsibly.
The amount of your first credit card limit will depend on the type of card you receive. Credit card companies don’t disclose starting credit limits, but for a store retail card such as the Amazon store card, cardholders report a starting credit limit of around $600. If it’s a major Visa or Mastercard, you may be approved for a slightly higher credit limit. Capital One Quicksilver cardholders report an average starting credit limit of up to $1,000.
To land a first credit limit above the $1,200 average, you’ll need that established credit history with no late or missed payments. You might land a higher credit limit if you’re listed as an authorized user on a card with a stellar credit history.
To get the credit limit you truly want, consider applying for a secured credit card. You’ll be essentially setting your own credit limit when you make a security deposit for the amount of your desired credit limit.
If you manage the card responsibly, you may be eligible for a secured credit card with a higher credit limit. In addition, your security deposit is refunded in full, if you close the account in good standing.
The highest credit card limit is over $100,000 according to anecdotes from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms – and the highest minimum you’ll find is around $10,000.
In order to get $100,000+ in spending power, you need a lot of assets and income, little debt, and a spotless credit history. Let’s look at some of the most popular offers with high floors and, hopefully, even higher ceilings so you can see for yourself.… read full answer
Here are some of the highest credit card limits right now:
You’re guaranteed a credit limit of at least $10,000 with this card, but it comes with a $550 annual fee and requires excellent credit. If you’re a high spender, though, the points you’ll rack up can be well worth it.
American Express Platinum card has no pre-set spending limit, which means your limit is flexible, will depend on your monthly spending habits and could change from month to month. The annual fee is $550, and you need good credit or better to get approved.
Students can look forward to a limit of at least $500. That’s pretty good for a first card when you have limited credit. The annual fee is $0.
Again, keep in mind that most credit cards only disclose minimum credit limits, if that. So, your limit could be a lot higher based on your creditworthiness.
In order to have a better chance of getting the highest credit card limit possible in your situation, you should make sure to always pay bills on time, use 30% or less of your available credit, pay down your debts, save money for the future, and otherwise make good financial decisions.
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