Which cards give highest credit limit to start out with?

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hyu968
 
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Which cards give highest credit limit to start out with?

Postby hyu968 » Sat Mar 17, 2012 12:00 pm

Hey guys, which banks offer the highest initial limits upon opening new cards? I have a fairly good credit score (around FICO 750), and I am shopping around for a new card. I need 0% APR for sometime, and high credit limit as I am going to put quite a bit of money on it in the next 6 month. Any advice you can give will be highly appreciated!

-George Matthews


JCarter
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Postby JCarter » Wed Mar 21, 2012 12:00 am

hyu968 wrote:Hey guys, which banks offer the highest initial limits upon opening new cards? I have a fairly good credit score (around FICO 750), and I am shopping around for a new card. I need 0% APR for sometime, and high credit limit as I am going to put quite a bit of money on it in the next 6 month. Any advice you can give will be highly appreciated!

-George Matthews


I'd recommend you go with the Chase Sapphire Preferred so you take advantage of the rewards, as well as the higher limits they tend to provide. Sapphire actually has no preset credit limit, and presuming you establish good history with Chase, they will typically approve almost anything (Within reason).

momoneyg08
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Postby momoneyg08 » Thu Mar 22, 2012 6:12 pm

Credit Unions typically give the highest credit limits. If you are in the military or if you are related to anyone in the service NFCU gives very high limits on their cards. I recently joined Penfed to get one of their cards and their opening credit limit for me was $20,000. Compare that to Walmart Discover which gave me $1000, Priceline Visa signature $5000

momoneyg08
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Postby momoneyg08 » Thu Mar 22, 2012 6:15 pm

NASA CU credit cards are also known for having large starting credit limits

irvine801
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Postby irvine801 » Thu Mar 22, 2012 10:45 pm

I'm assuming Chase sapphire is a charge card then?
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

momoneyg08
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Postby momoneyg08 » Fri Mar 23, 2012 4:02 pm

No CSP is a credit card whereas charge cards you have to pay at the end of the month. It is a Visa signature card so technically has no spending limit although there really is a spending limit. I believe it is usually 2x the limit they assign you (I think).

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Postby JCarter » Sat Mar 24, 2012 11:05 pm

No, the Sapphire and Sapphire preferred cards are credit cards, typically issued as a Visa Signature unless you request a MasterCard World.

Credit cards from a credit union can tend to be higher, but also require membership in a credit union and are sometimes harder to get/work with.

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Postby Money card » Sun Mar 25, 2012 4:57 pm

Hey George what type of card are you looking for cash back or points? You mentioned a card that has 0 percent interest (most cards have this for the first year).

So in the next 6 months do you plan on doing a lot of shopping, planning on doing a lot of driving, or traveling a lot on business?



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