The 5 best high-limit credit cards of 2020

Couple accepting the keys to a nice car after getting a new high limit credit card Image: Couple accepting the keys to a nice car after getting a new high limit credit card

In a Nutshell

A credit card with a high credit limit can help you increase spending power or improve your credit. While you generally won’t know your exact credit limit until after you apply, these five cards could offer high limits to qualified cardholders.

Louis DeNicola is a personal finance writer and has written for American Express and Discover. Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted. Availability of products, features and discounts may vary by state or territory. Read our Editorial Guidelines to learn more about our team.
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Having a high credit limit can allow you to make large purchases, use your credit card to earn rewards or transfer large balances to take advantage of an introductory 0% APR offer. Higher credit limits can also lead to lower utilization rates, which can help your credit scores.

Here are our picks for the five best high-limit credit cards for you to consider.

Best secured card: First Tech Platinum Secured Mastercard®

Here’s why: With secured cards, your credit limit will typically depend on the refundable security deposit you give the issuer to help open your account. Some issuers like Capital One may cap their credit limits at $2,500, $1,000 or lower. But with the First Tech Platinum Secured Mastercard,® you can receive a credit limit of anywhere from $500 to $25,000. But it’s not clear if that amount is tied directly to the size of your deposit or more flexibly determined by First Tech.

Credit limit aside, the First Tech Platinum Secured Mastercard® stands out if you’re working to build credit or need to make lots of purchases with the card. It doesn’t have an annual fee or foreign transaction fee, and you could receive a low interest rate depending on your credit profile. You’ll also earn one Rewards Point per $1 spent on purchases. Points can be redeemed for travel, merchandise or charitable donations.

But before you can apply for the card, you’ll need to join the First Technology Federal Credit Union, a large credit union with over half a million members. Membership is open to anyone who works or lives in Lane County, Oregon, works for the state of Oregon or works for one of the credit union’s sponsor companies. If that doesn’t describe you, you can still join after becoming a member of the Computer History Museum (at $15 a year for a digital membership) or the Financial Fitness Association (where you can get a one-year membership for $8).

To get a sense of your secured credit card options, compare offers on Credit Karma.

Best card if you’re new to credit: Petal Visa Credit Card

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Petal Visa Credit Card

From cardholders in the last year

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Here’s why: The Petal Visa Credit Card doesn’t require a credit history, offers cash back rewards and could help you build credit. You could also get approved for a credit limit as high as $10,000, although it might also be as low as $500, depending on your credit.

The Petal Visa Credit Card is an unsecured credit card with an unusual underwriting process. If you have a credit history, Petal will consider your credit history and scores. If not (or you have a thin file), the company will ask you to link your bank account and may approve you for the card based on your banking information.

If you’re approved, your card will carry a limit of anywhere from $500 to $10,000. The card doesn’t have an annual fee, late-payment fees, foreign transaction fees or other transaction-based fees. You’ll also earn 1% cash back from the start, but that goes up to 1.25% once you make six on-time monthly payments and 1.5% after 12 on-time monthly payments.

Check out our review of the Petal Visa Credit Card for more details.

Best premium travel card: Chase Sapphire Reserve®

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Chase Sapphire Reserve®

From cardholders in the last year

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Here’s why: The Chase Sapphire Reserve® is a regular pick as one of the best travel cards on the market. Its annual fee is $550, which may scare off some applicants. But few cards can match its perks, and it comes with a high minimum credit limit.

The Chase Sapphire Reserve® has a $10,000 minimum credit line and plenty of travel benefits to match. These include up to $300 in travel statement credit each year, complimentary Priority Pass Select membership and up to $100 every four years to offset a Global Entry or TSA PreCheck application fee.

The card also comes with up to $60 in automatic statement credits for DoorDash purchases in 2020 and up to another $60 in 2021, as well as a one-year Lyft Pink membership.

Read more about these benefits in our complete Chase Sapphire Reserve® review.

Best cash back card: Fidelity® Rewards Visa Signature® Card

Here’s why: As a Visa Signature card, the Fidelity® Rewards Visa Signature® Card has a $5,000 minimum credit limit. You can also earn an unlimited 2% cash back on your eligible purchases with no annual fee.

The 2% cash back is among the top offers available from a flat-rate cash back card, particularly for cards that don’t have an annual fee. The Citi® Double Cash Card is a potential contender, but it has a minimum credit limit of just $500.

Take note: While the Fidelity® Rewards Visa Signature® Card offers a great earnings rate, you’ll need to be OK with depositing your cash back rewards into a qualifying Fidelity account.

Learn more in our review of the Fidelity® Rewards Visa Signature® Card.

Best balance transfer card: First Tech Odyssey Rewards™ World Elite Mastercard®

Here’s why: The First Tech Odyssey Rewards™ World Elite Mastercard® stands out with a $25,000 minimum credit limit ($100,000 max), no balance transfer fee and an introductory 0% APR for the first 12 billing cycles on balance transfers made during the first 90 days after you open your account. After that, the APR for balance transfers will be a variable 8.49% to 18%, based on your credit profile. (The card has a variable regular purchase APR of 8.49% to 18%.)

Although the 12-month promotional balance transfer period isn’t as long as you’ll find from some other cards, the lack of a balance transfer fee and clear minimum credit limit puts the card in contention with other top balance transfer cards, which may carry a minimum credit line of only a few hundred dollars.

The First Tech Odyssey Rewards™ World Elite Mastercard® does have a $75 annual fee, but it’s waived the first year. You’ll only be able to apply if you’re a First Tech member, based on the qualifications we outlined above.

If you’re interested in a balance transfer, consider comparing offers on Credit Karma.

How we picked these cards

Most credit card issuers don’t reveal the specific minimum or maximum limits for their cards. When they do, they often only indicate a low minimum credit limit, like $300 to $500.

To help provide some clarity, we focused on picking cards that either shared a clear credit limit range or cards that must have certain credit limits based on network rules, like Visa Signature cards.

You still may be able to earn a high credit limit from a card that lists a low minimum credit limit. Our list is meant to highlight cards that make information on their high limits publicly available, not all cards with potentially high limits.

What is considered a high credit card limit?

Your definition of a high credit limit may vary based on what you want from a credit card, but we consider a $5,000 to $10,000 limit to be a good starting point for the “high” range. But there are some cards with potential maximum credit limits of $100,000, like the First Tech Odyssey Rewards™ World Elite Mastercard®. And charge cards, such as those offered by American Express, might not have a preset spending limit at all.

How do I get a high-limit credit card?

Credit card issuers determine your credit limit based on a variety of factors pulled from your application, credit reports and their own internal information. Your exact limit will likely depend on how the issuer weighs these factors.

For example, if you have a high income and low monthly housing payment, the issuer may feel more comfortable giving you a high limit. Similarly, if you have a history of paying your bills on time and have good or excellent credit scores as a result, that may increase your chances of getting a high limit card.

From our experience, your history and current relationship with a particular card issuer can also come into play. For example, if you have a $20,000-limit card with an issuer and want to apply for a second card with a $10,000 minimum limit from the same issuer, you might not be approved for the new card if the issuer is only willing to extend you $25,000 of total credit. In some cases, though, you may be able to request a reallocation of your existing credit limit to allow for approval of the new card.

How does a high limit affect my credit?

Your credit limits don’t directly affect your credit scores, but the amount of your available credit you use is one of the most important factors in the calculation of your scores. Credit bureaus will consider your credit utilization ratio, which looks at your total available credit compared to your most recently reported balances on revolving accounts.

Using a lower percentage of your available credit is best for your credit scores, and having higher credit limits can make this easier. But you can maintain low utilization rates even with low credit limits by making fewer purchases with your card.