topic Re: High Limit rewards credit cards in Credit Cards

High Limit rewards credit cards

GatorGuy — Sun, 02 Jun 2013 23:20:43 GMT

Any suggestions on what are the highest limit reward credit cards? I currently have a Venture card with a limit of 25k which they won't go higher on. I also have a Chase Freedom and Citibank Platnium Select with 15k. I would really like something closer to 50k if anything exists. My util can run between 20 to 30% each month with me paying off the balances so I would like to get it lower. Any ideas would be great. Otherwise I figure I would have to open a couple more accounts which I know would lower my avg age.

Re: High Limit rewards credit cards

pdog661 — Sun, 02 Jun 2013 23:25:53 GMT

Question that everyone tells your from childhood not to ask - How much money do you have?

If over 500K look to the palladium card.

If you pay off your balance in full every 45 days look to the plat card from AMEX. You should start with a 35K limit, and it will grow based upon your monthly spend. After you spend 250K a year on the card you should get invited to the black card, and then I believe the limit moves to 1 million.

Re: High Limit rewards credit cards

youngandcreditwrthy — Mon, 03 Jun 2013 01:20:41 GMT

Looks like you need a NPSL Amex Gold or Platinum... As long as you pif. They have a great selection of business accounts as well, I believe.

Re: High Limit rewards credit cards

Anonymous — Mon, 03 Jun 2013 02:38:10 GMT

Certain cards like the Merrill+ can go up to 500k CL.

There are many cards that can have high CLs, but I don't know how high you want it to be, so it's really hard to give specific examples.

I've seen a few Citi, Chase and Amex revolvers with >75k CL, so you can check those banks out if that's what you're interested in. I don't know if there's any hard limit to those cards.

Re: High Limit rewards credit cards

HiLine — Mon, 03 Jun 2013 02:55:43 GMT

+1 for the charge card proposition. I don't think super-high limit cards are being issued anymore.

Re: High Limit rewards credit cards

Creditaddict — Mon, 03 Jun 2013 03:13:09 GMT

You have Navy Federal - Flagship at 2%!!!! My new #1!

Otherwise, If you travel at all and charge that much you actually fit into the AA model of making some major perks but really if you don't travel and need those types of upgrades pure cash will get you much further so you need to be with Bank of America, Chase, Citi.... Those banks will go higher but probably won't be instant... kind of surprise to see you have the highest limit from Capital One (Out of all banks!!) You don't like your citi cards? it's rare to not see them as one of the higher if people have been with them for a while.... you could combine if you have 2 to get your limit higher.

Re: High Limit rewards credit cards

Walt_K — Mon, 03 Jun 2013 03:17:49 GMT

Chase gave me an initial limit of almost $30K on the CSP, so I am guessing it goes quite a bit higher.

Re: High Limit rewards credit cards

HiLine — Mon, 03 Jun 2013 03:19:41 GMT

Walt_K: when you did you get the card? It wasn't until recently that banks started closing 25k+ limit accounts en masse...

Re: High Limit rewards credit cards

Walt_K — Mon, 03 Jun 2013 03:21:20 GMT

@HiLine wrote:
Walt_K: when you did you get the card? It wasn't until recently that banks started closing 25k+ limit accounts en masse...

January of this year.

Re: High Limit rewards credit cards

Creditaddict — Mon, 03 Jun 2013 03:23:48 GMT

@Walt_K wrote:
@HiLine wrote:
Walt_K: when you did you get the card? It wasn't until recently that banks started closing 25k+ limit accounts en masse...
January of this year.

Initial $30k!? WOW You bank with Chase? What else you got? seems so rare to get a starting line like that, did you call to recon?

Re: High Limit rewards credit cards

Anonymous — Mon, 03 Jun 2013 03:30:35 GMT

@HiLine wrote:
Walt_K: when you did you get the card? It wasn't until recently that banks started closing 25k+ limit accounts en masse...

I think it depends more on income and also credit history.

A lot of banks do not have problems with issuing extremely high CLs if the income and credit history supports it.

I've seen several examples of people getting >30k initial CL with Citi, Amex, Chase and BofA. There's a few people who posted on this forums too about this.

Re: High Limit rewards credit cards

Walt_K — Mon, 03 Jun 2013 03:32:01 GMT

@Creditaddict wrote:
@Walt_K wrote:
@HiLine wrote:
Walt_K: when you did you get the card? It wasn't until recently that banks started closing 25k+ limit accounts en masse...
January of this year.
Initial $30k!? WOW You bank with Chase? What else you got? seems so rare to get a starting line like that, did you call to recon?

I don't bank with Chase, but I have a fairly decent income. It's hard to understand how the banks set limits sometimes.

I have a Freedom card with Chase that I got in April 2012. The initial CL on the Freedom was $5,500. I called to recon it right after approval and after another HP they wouldn't raise the limit. I didn't put a lot of spend through the Freedom. I basically charged it to the max to take advantage of the 0% and let it sit there for most of the year, paying a little more than the minimum. Right before I applied for the CSP, I paid the balance on the Freedom in full.

I do have an Amex SPG with a $27K limit. Chase gave me $29.7K as the initial limit on the CSP. Maybe they were trying to nudge out Amex. I don't know. I was surprised because they didn't care to nudge out Amex when I applied for the Freedom.

Another thing that could be in play is that I had a Chase account shut down in 2008 when I fell behind on payments. I got it caught back up before they charged it off or sent it to collections, and I paid it in full. So maybe they wanted to go slow with the Freedom card and then were willing to extend me more credit once they saw some positive history on the Freedom. Or maybe they just have different limit setting criteria on the CSP.

Re: High Limit rewards credit cards

GatorGuy — Mon, 03 Jun 2013 13:20:55 GMT

How does a NPSL card work with your CC util? I'm not too eager to switch over to AMEX because my venture card has so many perks that are similar to the AMEX that it doesn't really seem to make it worth it for the high fees. I pay off my balances in full each month so that isn't a problem.

I liked my Citi before but switched to CapitalOne after they screwed around with my CL and then refused to raise it. I will check with them again and see what the max is that they will go. As well as checking with the other banks you guys mentioned.

Re: High Limit rewards credit cards

GatorGuy — Mon, 03 Jun 2013 19:20:32 GMT

Is the navy federal 2% on everything with no limits on the amount you can earn?

Re: High Limit rewards credit cards

Creditaddict — Mon, 03 Jun 2013 20:35:27 GMT

@GatorGuy wrote:
Is the navy federal 2% on everything with no limits on the amount you can earn?

YES, If you use towards travel... Which you book travel on the card, then just ask for a credit... I believe if you take as cash without doing anything travel you get about 1.5%

I don't usually like things linked towards Travel but I like this because I can book anywhere and for aynthing and then trade in the points for dollars towards the purchase on that statement.... no exp. either now I believe... they have been making some changes lately so we grabbed it.

We still have our Cash Signature Visa also which is 1% for first $10k/annual then 1.5% for remainder of the year.... we did that last year, not for everything but hit the 1.5%.... before I really used and knew more about Navy... I'm all over them now for everything!

Re: High Limit rewards credit cards

Anonymous — Mon, 03 Jun 2013 20:45:48 GMT

our AMEX Plat card has been a safe haven for large charges. We've been able to make single charges of $75k on multiple occassions in one month without a phone call or questioning.

Re: High Limit rewards credit cards

theoldnocreditmaster — Mon, 03 Jun 2013 20:56:26 GMT

Chase gave me an initial line of 28K on the CSP. I applied about a week later for the Marriott Premier Signature and they gave me a credit line of 32K on that one. No rhyme or reason to their limit assignments. Seems a bit backwards to me.

Re: High Limit rewards credit cards

Anonymous — Mon, 03 Jun 2013 21:36:55 GMT

I know someone who has a $500k limit on his J.P. Morgan Palladium card, which means he could theoretically spend over $1.5mm in a single month.

Re: High Limit rewards credit cards

GatorGuy — Mon, 03 Jun 2013 21:43:54 GMT

@Creditaddict wrote:
@GatorGuy wrote:
Is the navy federal 2% on everything with no limits on the amount you can earn?
YES, If you use towards travel... Which you book travel on the card, then just ask for a credit... I believe if you take as cash without doing anything travel you get about 1.5%
I don't usually like things linked towards Travel but I like this because I can book anywhere and for aynthing and then trade in the points for dollars towards the purchase on that statement.... no exp. either now I believe... they have been making some changes lately so we grabbed it.
We still have our Cash Signature Visa also which is 1% for first $10k/annual then 1.5% for remainder of the year.... we did that last year, not for everything but hit the 1.5%.... before I really used and knew more about Navy... I'm all over them now for everything!

Sounds great. Any idea how high their CLs go?

Re: High Limit rewards credit cards

Creditaddict — Mon, 03 Jun 2013 22:41:24 GMT

$75-$85k I think.
We had $35k on cash, just took $5 from it to open the Flagship.