topic Re: Cards that give high vs low limits in Credit Cards

Cards that give high vs low limits

MoreRewards — Fri, 28 Mar 2014 23:12:15 GMT

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

Re: Cards that give high vs low limits

BrokaToe — Sat, 29 Mar 2014 01:03:54 GMT

@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...

Re: Cards that give high vs low limits

B335is — Sat, 29 Mar 2014 01:06:46 GMT

Low Limits:

Target

Abercrombie & Fitch

Re: Cards that give high vs low limits

xXIDaShizIXx — Sat, 29 Mar 2014 01:15:05 GMT

Kohls low.
GE Generally high.

Re: Cards that give high vs low limits

Chris679 — Sat, 29 Mar 2014 01:22:28 GMT

Starting limits are based on your credit profile at the time. I once got two Citi cards one month apart one for $6000 and the other for $1500.

Re: Cards that give high vs low limits

MoreRewards — Sat, 29 Mar 2014 02:01:48 GMT

I figured it would vary.

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. I don't have a card from Amex. So I've no personal experience with them.

I totally understand that it can vary from lender & each persons credit profile is different.

Re: Cards that give high vs low limits

Anonymous — Mon, 08 Jun 2015 17:54:05 GMT

In my experience:
Low start but easy to increase limit shortly thereafter:
NY&CO, The Limited, Abercrombie, AE, Victoria's Secret, Carsons, Kohls, capital one, jc Penney, Ann Taylor, old navy, banana republic, gap, Tj Maxx, Walmart, express, marathon, the buckle

Chase freedom started at $700 no increase so far in 12 months. Speedway is slow to give an increase unless you use it every month, Mobil is also slow

Higher limits- Jared, Gardner White, Macy's, Bloomingdales, Chase Amazon, care credit, Barclay, Merrick bank, first national credit card, blaze MasterCard, show MasterCard, Amazon rewards

Re: Cards that give high vs low limits

MissMoni223 — Tue, 09 Jun 2015 00:13:52 GMT

Chase Freedom started me at $5,000!

American Eagle started me at $150!

Re: Cards that give high vs low limits

TURNERHOOVER — Tue, 09 Jun 2015 00:21:32 GMT

@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 diff
erent at that time, so...

Exact opposite for me:

Chase approval - 4k

Discover approval - 1.5k

Re: Cards that give high vs low limits

Anonymous — Tue, 09 Jun 2015 00:21:54 GMT

@MoreRewards wrote:
I figured it would vary.

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. I don't have a card from Amex. So I've no personal experience with them.

I totally understand that it can vary from lender & each persons credit profile is different.

I just got a discover and they beat my highest current cl by $500 ($6500), and beat my highest previous sl by $1500 ($5000).

From observations here the new BP cards that everyone was getting a few weeks ago all had $1500 or less as sl, regardless of whether it was the store card or not.

Re: Cards that give high vs low limits

Anonymous — Tue, 09 Jun 2015 02:11:53 GMT

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 :\

Re: Cards that give high vs low limits

Anonymous — Tue, 09 Jun 2015 02:22:49 GMT

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?

Re: Cards that give high vs low limits

Anonymous — Tue, 09 Jun 2015 04:09:31 GMT

American eagle started me at $150 also but has recently increased to $900.

Re: Cards that give high vs low limits

Anonymous — Tue, 09 Jun 2015 05:04:36 GMT

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/6-Applications-5-approved-1-denied-Updated/m-p/3723632

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

Re: Cards that give high vs low limits

takeshi74 — Tue, 09 Jun 2015 13:13:39 GMT

@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.

Re: Cards that give high vs low limits

kdm31091 — Tue, 09 Jun 2015 13:26:50 GMT

@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.

Re: Cards that give high vs low limits

MoreRewards — Fri, 19 Jun 2015 14:02:34 GMT

@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

Re: Cards that give high vs low limits

Gmood1 — Fri, 19 Jun 2015 15:51:44 GMT

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.

Re: Cards that give high vs low limits

Jerry45 — Fri, 19 Jun 2015 15:57:40 GMT

@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.

Re: Cards that give high vs low limits

Jerry45 — Fri, 19 Jun 2015 15:58:53 GMT

@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.