Having a high credit limit can boost your credit score. However, this only works if you can maintain low debt levels. However, if you need to make a large purchase, a high limit credit card will help you pay it back.
So, are you looking for a credit card with a high limit? Whether you want to finance large purchases, pay off a significant debt, or accommodate a large monthly payment, here are the credit cards with the highest limits.
Having these cards will equip you with the ability to make the payments you need to and make the purchases you need. With these cards, you will not have to choose between one or the other. Keep in mind that, ultimately, your creditworthiness is the real thing that will determine your credit limit.
Chase Sapphire Preferred Credit Card
You will be able to earn 60,000 points when you spend $4,000 on purchases within the first three months of opening your account. You can expect $750 towards your travel expenses redeemed through Chase Ultimate Rewards. You will also have 2x the points towards travel and restaurants worldwide and 1 point per extra dollar spent on other purchases.
The best part of this credit card is that it comes with no foreign transaction fees. This perk is highly favorable to those who spend a lot of time outside their home countries. With other cards, foreign transaction fees can add up quickly.
You need to keep in mind that your credit limit will be determined by your creditworthiness, income level, and credit report. So, the better your income level and credit, the higher the credit limit you will be offered.
Capital One Venture Rewards Credit Card
With this credit card, you will get a one-time bonus of 50,000 miles when you spend $3,000 on purchases within three months of opening your account. The bonus of 50,000 miles roughly equals $500 in travel expenses. In addition, you will earn 2x the miles on every purchase that you make.
You will also get another 10x the miles on several hotels through January 2020. The best thing about this credit card is that your miles do not expire as long as your account is active. Further, you have no limit to how much you can earn.
Discover it Balance Transfer Credit Card
This credit card will automatically match all cashback you have earned at the end of your first year. You will earn 5% cashback at grocery stores, gas stations, and restaurants every time you activate. Also, you will automatically get another 1% cashback on all other purchases. You can redeem your cashback rewards at any time.
Chase Freedom Unlimited Credit Card
This credit card comes with double cashback. In your first year, you will be able to earn 3% on every $20,000 spent. After that, you will get 1.5% cashback on all other purchases. There is 0% APR for the first 15 months of opening your account. There is no minimum to redeem your cashback rewards and your rewards never expire, as long as your account is active. Finally, you get free credit score updates while using this card. Plus, there are zero annual fees.
Discover it Student Cash Back Credit Card
This credit card will automatically match all of the cashback rewards you have earned within your first year. There is no limit to how much you can earn in cashback rewards. Every quarter, you will get 5% cashback on gas, groceries, and another 1% on other purchases. What’s more, is that there is no APR or late payment fees in your first year.
The above are all great credit cards with high limits. However, the bottom line is that the better your credit score, the higher your credit limit will be. Further, improving your credit report will also enhance other credit-related areas, such as lowering your interest rates and fees. Do these credit cards interest you? Head to their websites to explore your options.
Disclaimer: All credit products carry risk. Be aware of these risks by reading the associated terms and conditions.