topic What income level does it take to get approved for a $5K limit, visa signature card? in Credit Cards

What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Thu, 07 Mar 2019 09:51:53 GMT

My US Bank Cash+ is a visa signature, but it wasn't when I first got it. I got it in September 2015 and it was my first credit card. I got a $1000 starting limit and 2 years later, accepted an offer from US Bank to increase the limit. I thought it was only gonna be $3000, but they upped it to $5000, so I was surprised, and it was rebranded a Visa Signature

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Thu, 07 Mar 2019 10:02:34 GMT

I think it’s just a matter of having a file that supports it.

I got a $7500 SL from Disco last March ($11,200 now), $7200 SL from NFCU in December for my Platinum ($12,700 now after merging most of my cashRewards with it), and a $8K SL from Synchrony on my PayPal Cashback in January and I am around the $18K a year mark.

Its a matter of finding a company that’s willing to be the first to give you that magic limit and then other companies will follow. When I applied for the Disco, I had a $6250 Capital One QuickSilver that started at $500 in 2014, a $2000 PlayStation card by Capital One, and a $1000 Ollo card. Discover opened some big doors for me.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

RicHowe — Thu, 07 Mar 2019 16:50:44 GMT

Visa Signature is a card benefits tier that is offered by the financial institution. This designation is not determined by your income or credit limit; neither is there a requirement for the financial institution to offer a mininum limit to be a Visa Signature card. A US Bank Cash+ card can still be a Visa Signature card with a $500 credit limit.

Some banks (like Chase) will guarantee a minimum credit limit:
Visa Signature: $5,000+
Visa Infinite: $10,000+

Visa Signature (or Visa Infinite) benefits vary by institution but are generally travel related.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Thu, 07 Mar 2019 13:30:41 GMT

From what I have heard, the Signature variation of the card is issued when the CL is above $5000. Not sure if this is a hard and fast rule or just a general observation that has been posted here.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

iced — Thu, 07 Mar 2019 16:24:31 GMT

The minimum income level is $0, though you should realistically make at least a few thousand a year even if it's via something like Social Security, dividends, or a pension. As stated in another post, it'll be more about your file than your income.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Thu, 07 Mar 2019 16:38:08 GMT

I never had this card, but I've gotten Visa Signature cards with a 5K limit before with only a 16K income.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Fri, 08 Mar 2019 01:09:03 GMT

@Anonymous wrote:
I think it’s just a matter of having a file that supports it.

I got a $7500 SL from Disco last March ($11,200 now), $7200 SL from NFCU in December for my Platinum ($12,700 now after merging most of my cashRewards with it), and a $8K SL from Synchrony on my PayPal Cashback in January and I am around the $18K a year mark.

Its a matter of finding a company that’s willing to be the first to give you that magic limit and then other companies will follow. When I applied for the Disco, I had a $6250 Capital One QuickSilver that started at $500 in 2014, a $2000 PlayStation card by Capital One, and a $1000 Ollo card. Discover opened some big doors for me.

You mean you make $18000 a year in salary?

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Fri, 08 Mar 2019 01:09:37 GMT

@Anonymous wrote:
I never had this card, but I've gotten Visa Signature cards with a 5K limit before with only a 16K income.

Which cards? What was your credit score at the time?

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Fri, 08 Mar 2019 01:15:21 GMT

Chase Ink Business Cash, Chase Sapphire Preferred, and Barclays Uber. Probably between 740 and 760.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Fri, 08 Mar 2019 01:14:49 GMT

@Anonymous wrote:
@Anonymous wrote:
I think it’s just a matter of having a file that supports it.

I got a $7500 SL from Disco last March ($11,200 now), $7200 SL from NFCU in December for my Platinum ($12,700 now after merging most of my cashRewards with it), and a $8K SL from Synchrony on my PayPal Cashback in January and I am around the $18K a year mark.

Its a matter of finding a company that’s willing to be the first to give you that magic limit and then other companies will follow. When I applied for the Disco, I had a $6250 Capital One QuickSilver that started at $500 in 2014, a $2000 PlayStation card by Capital One, and a $1000 Ollo card. Discover opened some big doors for me.
You mean you make $18000 a year in salary?

I’m disabled so it’s SSDI but that’s my annual income, yes.

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Stribe — Fri, 08 Mar 2019 03:28:12 GMT

@Anonymous wrote:
From what I have heard, the Signature variation of the card is issued when the CL is above $5000. Not sure if this is a hard and fast rule or just a general observation that has been posted here.

My US Bank Cash + is a signature with an anemic $1500 SL

Re: What income level does it take to get approved for a $5K limit, visa signature card?

Anonymous — Fri, 08 Mar 2019 04:19:12 GMT

@Stribe wrote:
@Anonymous wrote:
From what I have heard, the Signature variation of the card is issued when the CL is above $5000. Not sure if this is a hard and fast rule or just a general observation that has been posted here.
My US Bank Cash + is a signature with an anemic $1500 SL

Chase Amazons regularly get issued with $500 Visa Signatures too.

I think the Cash+ and Amazon are the most notable exceptions.