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I think I read somewhere that travel cards usually start off with higher limits. Is that true? Credit is excellent.
Correlation is not causation. People with higher incomes tend to travel more (or at least spend more on travel) and often choose travel cards. They generally get good limits, but they would also get good limits on cash back cards.
805 Fico. Pretty much all the major banks with 10-25k limits. Average age 12 years. Currenty used 7% of my available. have one mortgage.
Not really into rewards, just interested in high limit cards as I sometimes take money out for business and don't want to get balance chased if I take out too much too fast.
@K-in-Boston wrote:
For cash advances, I would strongly discourage travel rewards cards as they almost universally have much higher APRs than other cards from the same lenders. (Somebody has to pay for us to travel the world!) Even when a card such as Chase Sapphire Reserve might start out at only about 17.99%, often the cash APR will be 25+%.
Instead, you may consider looking into some no-frills cards from credit unions that may have APRs even for cash advances down in the single digits or at least low teens. Many CUs can be very generous with limits even with their most basic “Platinum” cards with no rewards. Alternately you may want to consider a low-APR personal line of credit, where you can just write yourself a check when the need arises.
+1000
You can get 50k+ in cash advances?... I don't care about the interest rate. Just high limits.
@duckSF wrote:I think I read somewhere that travel cards usually start off with higher limits. Is that true? Credit is excellent.
I think it's possibly true. When I got the Venture card it was by far the highest starting limit I'd been offered. And when I got the Chase Hyatt card that also had the highest, or one of the highest, starting limits I'd seen. On the other hand my Amex Delta card came with a low starting limit.
@K-in-Boston wrote:
For cash advances, I would strongly discourage travel rewards cards as they almost universally have much higher APRs than other cards from the same lenders. (Somebody has to pay for us to travel the world!) Even when a card such as Chase Sapphire Reserve might start out at only about 17.99%, often the cash APR will be 25+%.
Instead, you may consider looking into some no-frills cards from credit unions that may have APRs even for cash advances down in the single digits or at least low teens. Many CUs can be very generous with limits even with their most basic “Platinum” cards with no rewards. Alternately you may want to consider a low-APR personal line of credit, where you can just write yourself a check when the need arises.
It should also be noted that many of the no frills credit union cards have no cash advance fee, either. I never do cash advances except with credit union, no-fee, low-interest platinum cards.