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This question is about High Limit Credit Cards
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Chip Lupo, Credit Card Writer
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Yes, a $20,000 credit limit is good, as it is above the national average. The average credit card limit overall is around $13,000, and people who have higher limits than that typically have good to excellent credit, a high income and little to no existing debt.
Best High Limit Credit Cards
Best Overall:Chase Sapphire Preferred® CardChase Sapphire Preferred® CardLearn MoreLearn Moreon issuer's website- Highest Limit:Chase Sapphire Reserve®Chase Sapphire Reserve®Learn MoreLearn Moreon issuer's website
- No Annual Fee:Chase Freedom Unlimited®Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website
- Cash Back:Citi Double Cash® CardCiti Double Cash® CardLearn MoreLearn Moreon issuer's website
- Low Intro APR:Wells Fargo Reflect® CardWells Fargo Reflect® CardLearn MoreLearn Moreon issuer's website
It’s worth noting that even if you get a high limit credit card, your credit limit can still go up over time. After six months or more of on-time payments, you can generally ask for a credit limit increase.
This answer was first published on 10/11/22 and it was last updated on 03/28/24. 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.
- Best Overall:Chase Sapphire Preferred® CardChase Sapphire Preferred® CardLearn MoreLearn Moreon issuer's website
- Highest Limit:Chase Sapphire Reserve®Chase Sapphire Reserve®Learn MoreLearn Moreon issuer's website
- No Annual Fee:Chase Freedom Unlimited®Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website
- Cash Back:Citi Double Cash® CardCiti Double Cash® CardLearn MoreLearn Moreon issuer's website
- Low Intro APR:Wells Fargo Reflect® CardWells Fargo Reflect® CardLearn MoreLearn Moreon issuer's website
It’s worth noting that even if you get a high limit credit card, your credit limit can still go up over time. After six months or more of on-time payments, you can generally ask for a credit limit increase.
2024's Best High Limit Credit Cards
2024's Best High Limit Credit Cards
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What is the best credit card with a $20,000 limit?
There are no credit cards with a guaranteed $20,000 minimum credit limit. However, your best chance at getting a $20,000 limit is with the Chase Sapphire Reserve® card, which has a $10,000 minimum credit limit. If Chase thinks you can handle a limit that’s twice the minimum amount, based on your income and debt, you could be approved for $20k.
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What is a credit limit on a credit card?
A credit limit on a credit card is the maximum dollar amount a cardholder can access for purchases, balance transfers, cash advances, fees and interest charges combined. Though credit card cash advances have their own credit limit, that limit is part of the overall credit limit.
A credit card’s limit is determined when the credit card applicant is first approved for an account, and it’s based on the applicant’s credit history, annual income, current...
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What is the highest credit card limit you can get?
The highest credit card limit you can get is over $100,000 according to reports from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms. The best high limit credit cards offer spending limits of $10,000 or more.
In order to get $100,000+ in spending power, you need a lot of assets and income, little debt, and a spotless credit history. Let’s look at...
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Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
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