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Are you looking to take your credit game to the next level? High-limit credit cards can be a powerful tool for earning rewards and building credit. But, it’s essential to understand how to qualify for and use them responsibly.
Here are our picks for the best high-limit credit cards, including the inside scoop on how to make the most of them.
The Chase Sapphire Reserve is a top choice if you’re a frequent traveler. You’ll earn elevated rewards on travel booked via the Chase travel portal and travel and dining purchases.
Rewards:
Annual fee: $550
Credit limit: Starts at $10,000
One of the key features of the Sapphire Reserve is its $300 annual travel credit, which is automatically applied to any travel-related purchases. This effectively reduces the card’s $550 annual fee to $250, making it more affordable for frequent travelers.
Other perks include complimentary Priority Pass Select membership for airport lounge access, Global Entry or TSA PreCheck application fee credit, and extensive travel insurance.
The Sapphire Reserve’s credit limit is determined on a case-by-case basis, but most approved applicants report receiving limits of $10,000 or higher.
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The American Express Gold Card has no pre-set spending limit, which means the spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Your purchasing power adjusts over time based on payment history and creditworthiness.
Rewards
Annual fee: $250. See rates and fees.
Credit limit: No preset credit limit
Other perks of the Gold Card include up to $120 in annual dining credits, up to $120 in annual Uber Cash, and no foreign transaction fees. The card has a $250 annual fee, which the credits and rewards can offset if you use them regularly. See rates and fees.
The main drawback of the Gold Card is that it requires you to pay your balance in full each month, which may not be feasible for everyone.
If you have the financial discipline to do so and can take advantage of the card’s rewards, the Amex Gold Card can be a valuable addition to your wallet.
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The Chase Freedom Unlimited card offers elevated cash back on dining and drugstore purchases. But the real standout feature is the boosted cash back in the first year — up to $300 in total cash back.
This makes this an excellent choice for those who spend a lot on gas and groceries. After the first year, you’ll still earn 3% on dining and drugstore purchases and 1.5% on everything else — a solid flat-rate rewards structure.
Rewards
Annual fee: $0
Credit limit: Starts at $500
The Freedom Unlimited also has no annual fee. The card’s credit limit is determined based on your creditworthiness, but many approved applicants report receiving limits of $1,000 or higher.
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The Bank of America Premium Rewards card is a solid choice for those who want to earn rewards on everyday purchases.
Rewards
Annual fee: $95
Credit limit: Starts at $1,500
This card also offers a $100 annual airline incidental credit for expenses like baggage fees, seat upgrades, and in-flight purchases. You’ll also receive up to $100 in Global Entry or TSA PreCheck application fee credits every four years.
The card’s credit limit is determined based on your creditworthiness, but many applicants report receiving $5,000 or higher limits. Plus, if you’re a Bank of America Preferred Rewards member, you can earn even more rewards on your purchases, making this card an excellent choice for loyal customers.
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The Discover It Cash Back card offers a unique twist on cash back rewards. Each quarter, you’ll earn 5% cash back on rotating categories (up to a limit). In 2024, categories include drug stores, restaurants, gas stations, public transit, and more.
The main drawback is that you’ll need to activate the 5% bonus categories each quarter to earn the higher rate, which can be a hassle.
Rewards
Annual fee: $0
Credit limit: Starts at $500
One of the standout features of the Discover It Cash Back card is its Cashback Match program. At the end of your first year, Discover will match all the cash back you’ve earned, doubling your rewards. This means if you earned $500 in cash back during your first year, Discover will match that for a total of $1,000 in cash back.
The card’s credit limit is determined based on your creditworthiness, but many approved applicants report receiving limits of $1,000 or higher.
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The Capital One Quicksilver is a great option if you’re looking for a straightforward cash back. You’ll earn an unlimited 1.5% cash back on all purchases, with no annual or foreign transaction fees. This makes it an ideal choice for those who want to earn rewards without keeping track of bonus categories or spending limits.
Rewards:
Annual fee: $0
Credit limit: Starts at $750
The Quicksilver Cash Rewards card also offers a $200 cash bonus after spending $500 in the first three months — a solid bonus considering the low spending requirement.
The card’s credit limit is determined based on your creditworthiness, but many approved applicants report receiving limits of $1,000 or higher.
While the Quicksilver card lacks the perks of other high-limit cards, its simplicity makes it a solid way to earn cash back without hassle.
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The Navy Federal Credit Union Visa Signature Flagship Rewards Card has lower rates and fees than most cards. It has no balance transfer fees, foreign transfer fees, or cash advance fees. You’ll also get a $100 annual air travel credit for expenses like baggage fees, seat upgrades, and in-flight purchases.
Rewards
Annual fee: $49
Credit limit: Starts at $5,000
Other perks of this card include no foreign transaction fees, emergency assistance services, and a 24/7 concierge service.
The card’s credit limit is determined based on your creditworthiness, but many approved applicants report receiving limits as high as $15,000.
This card requires Navy Federal Credit Union membership, which is limited to active duty and retired military members, their families, and certain civilian employees of the Department of Defense. But, if you qualify for membership, the Flagship Rewards card can be an excellent choice for earning travel rewards with low rates and fees.
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Generally, a high-limit card offers a credit limit of $5,000 or more. These cards are often reserved for those with good to excellent credit scores and a solid income.
The most obvious benefit of a credit card with a sky-high limit is that you can borrow more money. A high credit limit can help keep your credit utilization low, which is a key factor in determining your credit score. It can provide more flexibility and purchasing power for larger expenses or emergencies.
As your balance grows, seeking a higher credit limit makes sense. You won’t have to worry about maxing out or paying extra fees for exceeding the limit.
“One of the best strategies is building strong and lasting relationships with the banks,” says Amanda Webster, chief operating officer of Fund&Grow. “The longer you show positive habits, such as paying on time, paying more than the minimum, and keeping your utilization low, the more that bank will trust you as a borrower.”
How do you get your hands on a high-limit card? Here are a few tips:
- Build your credit score: High-limit cards are typically reserved for those with good to excellent credit. Focus on paying your bills on time, keeping your credit utilization low, and avoiding new credit inquiries to boost your score.
- Increase your income: Lenders want to see that you have the means to pay back what you borrow. Increasing your income through a raise, side hustle, or job change can improve your chances of qualifying for a high-limit card.
- Be selective: Applying for too many credit cards in a short period can be a red flag for lenders. Be selective and only apply for cards you have a good chance of being approved.
While high-limit credit cards can offer valuable rewards, using them responsibly is crucial to avoid falling into debt.
- Pay your balance in full each month: High-limit cards often come with high interest rates, so paying your balance in full each month is best to avoid accruing interest charges.
- Keep your credit utilization low: Keeping your credit utilization (the amount of credit you use compared to your total credit limit) low is key to maintaining a good credit score. Aim to keep your utilization below 30%.
- Don’t overspend: Just because you have a high credit limit doesn’t mean you should max out your card. Stick to your budget and only spend what you can afford to pay back.
- Take advantage of rewards and perks: To get the most value out of your high-limit card, ensure you take advantage of all the rewards and perks it offers. This could include using your card for travel purchases to earn bonus points or taking advantage of annual credits and discounts.
High-limit credit cards can be a valuable tool for earning rewards and building credit, but using them responsibly is essential.
Remember to pay your balance in full each month, keep your credit utilization low, and don’t overspend — and you’ll be well on your way to becoming a high-limit card pro.
Opinions expressed are author’s alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.