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Cards that give high vs low limits

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Anonymous
Not applicable

Re: Cards that give high vs low limits

Depends on your credit profile. In my opinion one of the biggest wildcards is Chase. I've had really good luck with Chase giving me a crazy limit off the bat, as have some others. Yet others say Chase is stingy.

 

I'd put Amex on the "high" list as they seem to like giving out CLIs until you hit their mysterious threshold and they ask you for an FR :\

Message 11 of 21
Anonymous
Not applicable

Re: Cards that give high vs low limits

This is mostly determined by your credit profile moreso than the cards themselves.

Some cards have starting limits that are no lower than $5K and others have starting limits as low as $100 or $150 (store cards) or $300-$500 (major cards).  Is THAT the kind of list you wanted?

 

Message 12 of 21
Anonymous
Not applicable

Re: Cards that give high vs low limits

American eagle started me at $150 also but has recently increased to $900.
Message 13 of 21
Anonymous
Not applicable

Re: Cards that give high vs low limits

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/6-Applications-5-approved-1-denied-Updated/m-p...

My family had best experience with GM Buypower card by CapOne in terms of initial credit limit

 

Message 14 of 21
takeshi74
Senior Contributor

Re: Cards that give high vs low limits


@MoreRewards wrote:
Can we start a list of credit cards that generally seem to give low limits & those that give high limits.

It's not the card that determines your limit.  It's your credit and income.

 

Some creditors and/or products may have more lax criteria but that doesn't mean that everyone that applies for such a card will get a high limit.  If one's credit and income do not support a high limit then one will not get a high limit.

 


@MoreRewards wrote:
I've always heard Discover is on the conservative side too.

But one thing I keep seeing is how generous CU are & that Amex usually gives good starting limits.

It's not a matter of generosity/stinginess.  It's a matter of risk assessment based on credit and income.  CU's can give good starting limits but, again, it depends on one's credit.  There are certainly many who have started off with low limits from CU's and AmEx.

 

You also have to be very careful relying on anecdotal evidence -- even aggregated -- for determining trends.  Discover does seem to be conservative for many but, then again, there are accounts of those with thin but clean profiles who have received high initial limits from Discover.

 

FWIW, in my experience I apped for an AmEx and a Chase card on the same day.  AmEx started me with a limit half that of Chase.  Chase approved a second card with the same limit (double that of AmEx) the next day.  However, that AmEx was doubled on day 61 via the 3x CLI.  3 months later my second AmEx started off with a limit about half of the initial limit of the first but it was tripled after 6 months and a 4506-T.  No auto CLI's from either.  I currently have 4 Chase cards and have bumped into my internal limit which is about twice my current exposure with AmEx.  I haven't pushed things with AmEx since the 4506-T as I'm happy with my limits.

Message 15 of 21
kdm31091
Super Contributor

Re: Cards that give high vs low limits


@MoreRewards wrote:
Can we start a list of credit cards that generally seem to give low limits & those that give high limits.

It's just too general of a question. Sure there are trends but it's going to be based on your profile. People have $500 Freedom cards and people have $10k Freedom cards for example.

 

Generally store cards will be "low" limits. That is the one thing that is somewhat more universal. It is unlikely that Target or Kohls will give someone a $3k limit off the bat.

 

But with non-store cards? It varies so much and depends entirely on profile. People can say "x card gives huge limits", you can apply and get $500 or $1k because it's a personal thing. Never rely on someone telling you a card gives large limits because you could be disappointed. Remember this forum is a small sample size.

 

 

Message 16 of 21
MoreRewards
Established Contributor

Re: Cards that give high vs low limits


@takeshi74 wrote:

@MoreRewards wrote:
Can we start a list of credit cards that generally seem to give low limits & those that give high limits.

It's not the card that determines your limit.  It's your credit and income.

 

Some creditors and/or products may have more lax criteria but that doesn't mean that everyone that applies for such a card will get a high limit.  If one's credit and income do not support a high limit then one will not get a high limit.

 


@MoreRewards wrote:
I've always heard Discover is on the conservative side too.

But one thing I keep seeing is how generous CU are & that Amex usually gives good starting limits.

It's not a matter of generosity/stinginess.  It's a matter of risk assessment based on credit and income.  CU's can give good starting limits but, again, it depends on one's credit.  There are certainly many who have started off with low limits from CU's and AmEx.

 

You also have to be very careful relying on anecdotal evidence -- even aggregated -- for determining trends.  Discover does seem to be conservative for many but, then again, there are accounts of those with thin but clean profiles who have received high initial limits from Discover.

 

FWIW, in my experience I apped for an AmEx and a Chase card on the same day.  AmEx started me with a limit half that of Chase.  Chase approved a second card with the same limit (double that of AmEx) the next day.  However, that AmEx was doubled on day 61 via the 3x CLI.  3 months later my second AmEx started off with a limit about half of the initial limit of the first but it was tripled after 6 months and a 4506-T.  No auto CLI's from either.  I currently have 4 Chase cards and have bumped into my internal limit which is about twice my current exposure with AmEx.  I haven't pushed things with AmEx since the 4506-T as I'm happy with my limits.


 

I did Amex & Chase the same time also. Amex $8500 CL & Chase $7600 CL 

EQ 773 * EX 786 * TU 797
Message 17 of 21
Gmood1
Super Contributor

Re: Cards that give high vs low limits

Out if the 8 cards I acquired. Amex ED was the lowest. Then Citi Double cash and Chase . Capital One, BofA and Discover were roughly the same. Amex Blue Preferred and PenFed were the two highest. Amex seems to be the easiest to get CLI's from in my case.
Message 18 of 21
Jerry45
Valued Contributor

Re: Cards that give high vs low limits


@MoreRewards wrote:
Can we start a list of credit cards that generally seem to give low limits & those that give high limits.

Citi seems to be on the low side.

Message 19 of 21
Jerry45
Valued Contributor

Re: Cards that give high vs low limits


@BrokaToe wrote:

@MoreRewards wrote:
Can we start a list of credit cards that generally seem to give low limits & those that give high limits.

To be honest with you, this would be a really hard thread to compile. Considering initial limits are given out with such a wide variety of variables at play. Depending on the person and their credit profile limits could vary drastically. That being said, in my experience, Chase seems to be low balling me, while Discover was very generous.

 

I was approved for both on the same day and Discover gave me a $7,000 starting line while Chase gave me a $500 starting line on the Freedom.  There again, that just goes to show you how much variance there could be between lenders as well. Of course both of those banks pulled different credit reports and they were a bit different at that time, so...


So true. I was approved for a high limit on the Freedom, but very low at Walmart.

Message 20 of 21
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