The best credit card with nearly guaranteed approval that can give you a $5,000 credit limit is the Bank of America® Customized Cash Rewards Secured Credit Card. You can place a refundable security deposit of up to $5,000 for a credit limit equal to the amount you put down. The Bank of America® Customized Cash Rewards Secured Credit Card also gives 1 - 3% cash back spent on purchases, and it has a $0 annual fee.
In general, your chances of being approved for a $5,000 limit credit card are best if you apply for a secured credit card that allows you to deposit $5,000. The deposit acts as your spending limit, which prevents you from spending more than you can afford to repay. Secured cards don’t guarantee approval, but they’re the closest you’ll get.
Best Secured Credit Cards for a $5,000 Limit
It is also worth noting, there are other high limit credit cards with great rewards that offer credit limits of $5,000, at a minimum, but they require at least good credit for approval. Examples include the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® card. With these types of cards, approval for an account is far from guaranteed, but if you have a high enough credit score and enough income to be approved, you should get a limit of at least $5,000.
This answer was first published on 05/24/21 and it was last updated on 03/15/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
It is also worth noting, there are other high limit credit cards with great rewards that offer credit limits of $5,000, at a minimum, but they require at least good credit for approval. Examples include the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® card. With these types of cards, approval for an account is far from guaranteed, but if you have a high enough credit score and enough income to be approved, you should get a limit of at least $5,000.
People also ask
What's the best high limit secured credit card?
The best high limit secured credit card is the NIH Federal Credit Union Platinum Secured Card because you can get a limit of up to $25,000 with a matching security deposit and there’s no annual fee. Plus, anyone can qualify for credit union membership by joining the American Consumer Council for free. You need bad credit to qualify for the card.
Best High Limit Secured Credit Cards
At the end of the day, there are plenty of...
What's the easiest high limit credit card to get?
One of the easiest high limit credit cards to get is the Citi Double Cash® Card. This card offers a minimum credit limit of $500 and cardholders report getting a starting credit limit as high as $11,500. The Citi Double Cash Card has a $0 annual fee and requires at least fair credit for approval.
Keep in mind that most high limit credit cards require at least bad credit for approval. So, if you’re looking for a card...
