Adam McCann, Financial Writer
@adam_mcan
A good credit limit is around $30,000, as it’s close to the national average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income, and little to no existing debt.
What qualifies as a good credit limit differs from person to person, though. For someone with no credit, for example, a $500 credit limit is good because most beginner credit cards start off with lower limits. But for very experienced borrowers with a lot of disposable income, a good limit is much higher.
Good Credit Limits by Age Group
| Age Group | Good Credit Limit |
| Gen Z (18-24) | $13,000 |
| Millennials (24-39) | $28,000 |
| Gen X (40-55) | $39,000 |
| Baby Boomers (56-74) | $42,000 |
| Silent Generation (75+) | $33,000 |
It is worth noting that a good credit limit is slightly higher than the average for each age range, based on 2023 Experian data.
Remember, it’s best for your credit score to have a low credit utilization ratio, so you should try to use 1% to 10% of your credit limit each month (or no more than 30%).
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Emma Rodriguez, Member
@emmarod
From what I've seen, it’s good if your total limit is between 1x-3x your annual income. For example, if you make 60K, having 60K-180K across all cards isn’t unusual. The key is keeping your usage low - carrying a 2K balance on a 150K limit is fine, but the same 2K on a 2K limit hurts your score.
Nathan WW, Member
@nward_nlt
There's no magic number. I've got friends with 20k limits making like 50k a year, and others with 150k limits on six-figure incomes. The real key is keeping your balances low. That's how you keep scores high.
Zoeee Parker, Member
@zoeparker_des
Whatever covers your monthly spending while keeping utilization under 30%. Don’t obsess.
Christopher Ross, Member
@c_ross_writer
A "good" credit limit depends on your income/spending. General rule is 1-2x your salary across all cards. Like if you make $50k, $50k-$100k total limit is solid.
People also ask
Is $20,000 a high credit card limit?
Yes, $20,000 is a high credit card limit. Generally, a high credit card limit is considered to be $5,000 or more, and you will likely need good or excellent credit, along with a solid income, to get a limit of $20,000 or higher.
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You can learn more about the best high-limit credit cards on WalletHub. In addition, remember that even if you start off with a credit limit below 20,000, that’s...
read full answer by Adam McCann, Financial WriterWhat should my credit limit be?
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.
What you should know about credit card credit limits:
- Credit card limits can be as low as $200.
- ...
Is a $5,000 credit limit good?
A $5,000 credit limit is good if you have fair to good credit, as it is well above the lowest limits on the market but still far below the highest. The average credit card limit overall is around $13,000. You typically need good or excellent credit, a high income and little to no existing debt to get a limit that high.
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High limit credit cards tend to be available to people with...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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Do you mean on a single card? Or combined limit?