What credit card limit can I get with a $20,000 salary?

The credit limit you can expect for a $20,000 salary across all your credit cards could be as much as $4000 to $6000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open. Certain banks and credit unions may also be more generous with credit limits than others.

In addition, credit card companies don’t just consider your salary – you can also list income that you can reasonably access from other household members, like your spouse’s salary. In other words, household income is the bigger determining factor.

Disposable Income Matters

One thing to keep in mind is that you don’t need to be able to pay off your entire credit limit every month – credit card issuers are simply looking for you to be able to make at least the minimum required payment on the maximum balance using your disposable income, or your income after taxes. In other words, you’ll need to be capable of paying off 1% to 3% of the credit limit every month.

You should also note that when you apply for a credit card, the issuer will be able to see your existing loans and lines of credit, which will reduce the amount of your income that’s available to put toward payments on a new card.

According to the credit bureau Experian, lenders are less interested in how much you make than how much money is left after you pay your other debts each month. Therefore, while having a higher income often leads to higher credit limits, there’s no exact calculation you can make to determine what your credit limit will be.

There are some statistics you can look at that can give you more of a ballpark idea, though.

Key Stats About Credit Limits from the 3 Credit Bureaus

• The average credit limit on a newly opened individual credit card is around $5,700 as of Q4 2024, according to TransUnion.
• The average credit limit on a newly opened individual credit card from a bank is more than $5,500 for people with a VantageScore of 620 or higher, and less than $1,600 for people with a score below 620, according to Equifax data from 2024.
• The average person has a credit limit of nearly $30,000 total, according to Experian.

Credit Card Limits by Generation

With a salary of $20,000, the generation you are closest to the median household income of is the silent generation and Generation Z. Their average credit limits are $33,000 and $13,000, respectively, so that may be helpful as a reference point.

*Household Income, according to Census Bureau

**According to Experian Data

Credit Limit Increases

Your initial credit limit on a credit card won’t necessarily be the limit you’ll have forever. After at least six months of responsible behavior, including paying on time and keeping your credit utilization low, you can typically ask for a credit limit increase. When you request a credit limit increase, you can also provide the bank with updated information about your salary, if it’s gone up recently.

Sometimes, your credit card issuer may even give you a credit limit increase without you asking for it.