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Best high limit cards for 2021.

clipperskipper
Regular Contributor

Best high limit cards for 2021.

Hi folks, I'm just curious what the best high limit cards are recommended for 2021, $30K and up. I don't pay fees, as there are way too many free cards available. I have five cards currently, some since 2005, with a total cl of $37000, the highest is Chase Freedom unlimited, @$21.6K.

I tried getting CLI's on the other cards over the years, to no avail. The response was that I don't run the balance up high enough. Duh! I usually have a 1 or 2 % balance each month.

Thanks!

 

T/U 830 EXP 825 01/21

 

 

 

 

 

 

Message 1 of 20
19 REPLIES 19
K-in-Boston
Moderator

Re: Best high limit cards for 2021.

Most bankcards from essentially every lender (with some credit unions capping lower off the top of my head) can be $30,000 or more, often much more, depending on your profile, income, and assets; the "best" really just depends on what you want out of a card.

 

If you're not spending more than about $740 a month across all of your cards, is there any reason for higher limits?

Message 2 of 20
Remedios
Moderator

Re: Best high limit cards for 2021.

At 1% or 2% use you really should be more worried about getting CLD than CLI given the limits on your cards.

Undead Danny Trejo looks strangely like dead Danny Trejo, who looks exactly like alive Danny Trejo. Thanks, Netflix!
Message 3 of 20
wasCB14
Super Contributor

Re: Best high limit cards for 2021.

A bank has little incentive to extend vastly more credit than you realistically might use in good times.

 

In the best case, the credit sits unused and makes them no money.

In the worst case, you lose your income, run up the balance, and default.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
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SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 4 of 20
longtimelurker
Mega Contributor

Re: Best high limit cards for 2021.


@clipperskipper wrote:

. I don't pay fees, as there are way too many free cards available.


Not your main point, but this is somewhat similar to saying "I never take planes as there are so many city buses" or "... as walking is free"

i.e. while there are some AF cards (e.g. rebuilder cards) that offer nothing that free cards don't, most of the annual fee cards discussed here can offer real advantages far exceeding the fee. 

 

And, more on topic, issuers may well give higher limits on premium annual fee cards

Message 5 of 20
wasCB14
Super Contributor

Re: Best high limit cards for 2021.



[Mod cut: Quoted post has been removed for violation of the myFICO Terms of Service.]

 

One common factor in those instances is a high number of different lenders. It's easier to get a $20k card from each of ten different lenders than to get one $200k card.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 6 of 20
Slabenstein
Valued Contributor

Re: Best high limit cards for 2021.



[Mod cut: Quoted post has been removed for violation of the myFICO Terms of Service.]

 

I've never had nor do I have access to a high income or monster limits, so members that do can answer more particularly, but I don't think many people of whatever profile divide their monthly spend evenly by their number of cards and then charge that to each card every month.  Rather, for the members you see here with a large number of cards with high limits, I expect some of the following to have been part of their history in getting them:

 

1) Long-term high income, such that the spend they put on the cards they do use substantially in a particular month can come to a reasonable portion of the limit.

 

2) High spend (at least relative to me), possibly supplemented by business or reimbursed work charges.

 

3) Card rotation, both long-term and short-term.  Short-term, a card may be in the sock drawer or see minimal use for a few months and then be switched out into active rotation so that, ultimately, most cards see reasonable activity.  Long-term, they may have accumulated multiple high limit cards over time just through the normal consumer credit card cycle.   It often happens that a consumer is attracted to a card's rewards structure, uses it substantially for a period during which they are approved for CLIs, and then lets it fall out of rotation when spend patterns change or a newer card offers more attractive rewards.  If you're doing this with a high income and strong profile, you can end up with multiple high-limit sd'd cards, in addition to your current active lineup.

 

4) Long credit history.  Kind of touched on this above, but I expect a lot of the MyFICO high achievers have maybe a couple of decades or more of reported credit history.  In addition to building up high limit cards over time, this combined with high income and a generally strong profile supports higher starting limits.

 

5) Limit reallocation and card combination.  With the issuers that allow this, disuse of cards from the same issuer over time can lead to the credit that issuer has extended becoming concentrated on a single card if the cardholder is one who opts to reallocate and close.  I think also for some issuers, like Chase and Discover, this can be the most direct way to build up a large limit with HPs.

 

Ofc this is all just supposition on my part.  Those here who have actually done it are the ones who can really tell you how it's done.  Smiley Happy


Message 7 of 20
archxr
Valued Member

Re: Best high limit cards for 2021.

Ask your local financial institution about corp charge cards. I can (probably would never) run six figures through ours in one swipe and it'd be processed as credit so it's technically what you're asking for.

+ AUs
Message 8 of 20
Andypanda
Established Contributor

Re: Best high limit cards for 2021.


@K-in-Boston wrote:

Most bankcards from essentially every lender (with some credit unions capping lower off the top of my head) can be $30,000 or more, often much more, depending on your profile, income, and assets; the "best" really just depends on what you want out of a card.

 

If you're not spending more than about $740 a month across all of your cards, is there any reason for higher limits?


I like to have a high credit limit in case of high valued expense. I had some major house repairs done a couple of months ago. Iwant to get rewards for tge expense no matter how high.

Message 9 of 20
AlchemysMom
Valued Member

Re: Best high limit cards for 2021.


@K-in-Boston wrote:

If you're not spending more than about $740 a month across all of your cards, is there any reason for higher limits?


I can think of a few
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Message 10 of 20
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