Venture® Rewards Credit Card
- 50,000 miles sign-up bonus.
- 48,000 miles for everyday spend.
What you consider to be a high limit on a credit card might be subjective, but in general, $10,000 or more is pretty good. There are high-limit cards of all types, including consumer cards, business cards, charge cards and, of course, ultra-elite cards, such as the invitation-only Amex Black. This card has no preset spending limit, but it does come with a $5,000 initiation fee and a $2,500 annual fee. Below we cover more accessible high-limit cards for everyday people with stellar credit histories.
MasterCard’s top-of-the-line products usually carry the World or World Elite logos. These cards typically come with higher limits and better benefits. For Visa, Visa Signature cards have higher limits and more benefits, as do the Visa Infinite line of cards. They are more abundant in Europe, though they have started to make their way into the U.S. market.
For high-limit charge cards and business cards, you may want to turn to American Express. Discover also offers high-limit credit cards, and they give a bonus to new cardholders that doubles the first year of rewards.
High-limit credit cards are not only for the rich and elite. If you have excellent credit and a decent income, try applying for cards that are known for having higher limits. Look for cards with labels that imply superiority, like platinum, diamond and preferred.
Keep in mind that many banks and co-branded credit cards will also offer the right clients limits of upwards of $10,000. Credit limits are not set in stone, nor can you get a guarantee as to what the limit will be. However, if the card has an annual fee, it will likely have a higher predetermined limit than no-fee cards.
Unlimited 1.5X rewards on every purchase offer
The Discover it Miles card is wonderful for two types of people. The first, and most obvious, is for someone looking for a single credit card that’s easy to use and that can do it all. The Discover it Miles card is a great option because it earns 1.5 miles per dollar spent on all purchases and redemptions areone cent per mile toward any purchase. Plus thereare a couple of other nice benefits, like $30 in annual Wi-Fi credits and no foreign transaction fees. As a no-fee card, all of that is essentially free.
The second type of person that the Discover it Miles card is a great option for is someone who is looking to truly maximize rewards. The Discover it is basically a no-brainer for the first year because all miles are doubled , meaning that it effectively earns 3 miles per dollar spent (1.5 when you purchase and 1.5 at the end of the year). After the first year it deserves a spot in the wallet of someone who wants to maximize rewards for purchases not included in the bonus earning categories of their other rewards credit cards.
With a sign-up bonus of 50,000 miles and the ongoing earning power of two miles for every dollar spent, there’s a good case for owning the Venture card. The $95 annual fee is waived the first year and you’ll have $460 to spend on travel once you’ve made the required $3,000 in purchases within the first three months. That makes this card a solid contender for your everyday spending. However, if you’re not going to be able to spend a minimum of $3,000 a year on the card, you would be better off selecting a card that has no annual fee.
If you fly American Airlines, the AA credit card can be a great value for the money. The sign-up bonus in conjunction with the waived annual fee for the first year makes it a risk-free proposition. And 60,000 AAdvantage miles can take you on a round-trip journey to any destination in the U.S., Canada, Mexico, the Caribbean or Central America.
Then there are the perks and benefits you’ll enjoy at no additional cost, such as free checked bags, a 10 percent mile refund and reduced mileage awards. Even double miles for American Airlines purchases is a worthy benefit, considering how hard it is to earn AAdvantage miles since the cheapest seats now earn only half the standard miles.
The short answer is absolutely. Depending on your travel and spending habits, this card may or not make sense for you after the first year when you start paying the annual fee, but earning 40,000 miles after meeting the minimum spend and earning 2X miles on all purchases are tremendous benefits. Not only that, but if this becomes your go-to card, miles will rack up fast, and with the 5 percent redemption bonus, that’s like earning 2.1 percent back on every purchase, every day. This card is just as good as any other cashback card currently on the market.
The Gold Delta SkyMiles Credit Card makes the most sense for people who often fly on Delta, but don’t have elite status. Cardholders get a free checked bag, priority boarding and discounted lounge access. Those are some nice perks that are typically reserved for elite status holders. The annual anniversary bonus makes this card relatively cheap to have. For anyone that flies at least 2 to 3 times a year on JetBlue, the free checked bag benefit alone can pay for the card.
The free checked bag benefit can be particularly valuable. You and anyone on your itinerary get one free checked bag each. That’ll save you $25 per bag for each flight, so it’s easy to quickly recoup the $95 annual fee.
If you’re in the market for a travel rewards cards with fantastic earning potential, the Premier Rewards Gold card is it. In fact, no other Membership Rewards card offers such significant reward rates. Additionally, you can earn 25,000 points for spending $2,000 in the first three months.
The points can be transferred to partners or used as cash through the Amex travel center, which offers a choice for purchasing a ticket with points when award seats aren’t available. Flexibility in both earning and redeeming is one of the strongest features of this card.
You can get excellent value out of ThankYou points, particularly if you transfer them to airlines and redeem for expensive premium cabin tickets. If you are a traveler that often books the cheapest economy class ticket, then there can also be strong value in redeeming points through the ThankYou program’s travel portal thanks to the 25 percent discount offered by this card.
If you are interested in domestic award travel or simple award redemptions, this card may prove to be too complex. Instead, consider cards with more domestic transfer partners. You may not get quite the same value for your points, but there will be more availability and easier redemptions.
The Expedia+ card is a decent option for someone looking for a simple, no annual fee travel rewards card. But that’s only if you book through Expedia because those are the only purchases that will earn bonus points. All other purchases earn just one point per dollar. The card makes the most sense for someone who makes some or all of their travel bookings with Expedia.
Additionally, since the Expedia+ card offers automatic Silver status and the ability to earn Gold status through spending, you’ll see more benefits from your hotel stays if you have this card. If you never book hotels through Expedia, this benefit will not be helpful to you at all.
The JetBlue card is a great card for casual JetBlue travelers. The lack of an annual fee makes the card free to hold. For anyone that spends a lot of money at grocery stores or at restaurants, the bonus categories on this card allow you to rack up a significant amount of points quickly. If you only fly JetBlue a few times a year and perhaps would not get enough value out of a card with better benefits that also carries and annual fee, this card may be for you.
Compare all credit cards by RE® Value, which is an estimate of how much you will earn during first year of credit card use minus annual fees.
There are many reasons to want a higher credit limit. If you are a responsible spender, it can improve your credit score and give you more security. While there are several ways to increase your credit limit, there are also some things you should avoid in the process.
The following strategies to increase your credit limit should not be attempted simultaneously because each one can trigger a hard inquiry. That can damage your credit score. If you are going to try several of the suggestions below, be sure to allow for some time between each attempt.
If you are seeking a high credit limit, one way is to apply for a new card. You may want to apply for a card with a bank you have another card with so you can combine your limits. Or you can try a new lender altogether. Although credit limits are determined by income and credit history, some credit cards are aimed at those seeking higher credit limits. If you have excellent credit, you can apply for these types of cards.
If you have several credit cards with a particular bank, they may allow you to consolidate the limits to one card. For instance, if you have three cards with Chase that each have a $1,500 limit, you may be able to have all or some of the limit transferred to a single card. If you are considering closing accounts to transfer the limit, you may want to keep open the card you have had the longest to keep your credit age longer.
If you have had several cards for a significant amount of time, you may want to keep the card that offers the best rewards. Once you have consolidated all your limits, other lenders may be more likely to give you a bigger limit on a new card.
Don’t tell them why you need an increase, tell them why you deserve it. Don’t call them and say you need to buy x, y and z. Banks don’t like desperation. You never want to seem needy. Instead present them with reasons why you deserve the increase.
Remind the creditor that you consistently pay your bills on time and that you are loyal to the bank. Tell them how long you have been a customer. Be sure and let them know if you have had an increase in income or a change in occupation. Also, inform them if you have paid off other existing accounts which lowered your debt to income ratio. Have a game plan ready before making the request.
Getting a credit line increase can be as easy as a phone call. Some credit card companies provide an automated option on their websites to request a credit increase. You could also e-mail customer service to get the ball rolling.
If you have had it for less than six months, it is not likely you will be granted an increase. If they thought you were worthy of a higher limit they would have granted it to you when you applied. Keep time on your side. Some credit card issuers grant automatic increases after periodic reviews, so you may not need to request one at all.
This will not increase your chances,and it may ruin them. When you ask for a credit line increase the lender will do a hard inquiry. Not only will you lose some points on your credit score every time you get a hard inquiry, but lenders don’t like to see several hard inquiries in a short amount of time. This can look desperate to lenders, which will make you appear risky.
Don’t get greedy. A credit line request should be in the range of 10 to 25 percent of your current limit. Asking for too much can be a red flag to lenders. This can result in a denial. Also, don’t expect the customer service rep to be able to say how much you may be granted because they are not allowed to do that.
Credit cards are popular for the rewards they can shower on those that use them wisely. But they are good for more than just rewards and travel benefits. Although many high-limit cards are aimed at those with excellent credit and high incomes, there are also many benefits an average Joe can get from a high-limit credit card. So, what can a high-limit credit card do for you?
Having a high-limit credit card can bode well for your credit score. Your credit utilization has a big impact on your credit score, account for about 30 percent of it. Your credit utilization is the amount of credit you are using compared to the total limit. It is recommended to never use more than 30 percent of your limit on any single card. The higher the usage, the more it can lower your credit score. Therefore, having a credit card with a high limit makes it easier to keep your credit utilization low.
If you are going to use your high-limit credit card for debt consolidation, you are going to want to look for a card that has a promotional 0% APR for balance transfers.
The Barclaycard Arrival Plus™ World Elite MasterCard® offers 0% APR on balance transfers that are made within 45 days of account opening. The balance transfer fee is 3 percent. You can also earn 40,000 bonus miles after spending $3,000 within the first 90 days of account opening, which is has a value of $421. This card also awards double miles on all purchases. When you redeem your miles, you will also earn 5 percent back.
This card is a World Elite MasterCard which comes with top-of-the-line cardholder benefits, such as trip cancellation insurance, price protection and extended warranty service. This card has an $89 annual fee, which is waived the first year.
A high-limit credit card can provide security. If there’s an emergency or unexpected expense, like a car or home repair, you know you will have the funds to cover it. Don’t wait until you have the need; preparation is an important part of success. You need to be prepared for the unknown and whatever may come.
Even if you have several cards that together give you high spending limits, maxing them out will cause your credit utilization to shoot up and your credit score to slump. That can take away your ability to get more credit, which you may need more than ever if there’s an emergency.
If you want a high-limit card to hold on to for the long term, you may want to consider one with no annual fee, such as the Discover it® Miles Card. You’ll also earn 1.5x rewards on all purchases with the card.
A credit card that has a high limit can be a great alternative for financing a large purchase. I would caution those looking to make a large purchase to avoid store credit cards and anything referred to as special financing.
Store credit cards are notorious for high interest rates and deferred interest. You may get an interest-free period, but as part of your financing agreement you will be slapped with all of the interest going back to the original purchase date if you do not pay the balance in full within the agreed upon time period. Many store cards have interest rates upwards of 23.99 percent, so it can amount to a large sum.
If you use a high-limit rewards credit card instead, you won’t be penalized if you do not pay the entire balance as long as you continue to make the monthly payment. More importantly, you won’t end up paying a lump sum of interest. Instead, you can get a lump sum of rewards.